KPIT Cummins Takes 50% Stake in SYSTIME

PUNE,India & MUMBAI--(BUSINESS WIRE)--KPIT Cummins Infosystems Ltd (BSE: 532400; NSE: KPIT), a global IT consulting and engineering partner to manufacturing and energy & utilities corporations, and SYSTIME, a leading business technology service provider, have announced that KPIT Cummins has entered into a definitive agreement to take 50% stake in SYSTIME, the world's largest Oracle JD Edwards solution provider.

“KPIT’s strong Industry expertise, larger geographic presence and a comprehensive suite of Oracle based offerings complement our strong relationships in Oracle JD Edwards’ space. We expect this to help us offer better value propositions to the Oracle JD Edwards community.”

This association underscores KPIT’s focus on providing Oracle-based solutions & services, and strengthens the company’s position as a strong contender for large Oracle deals in the Manufacturing and Energy & Utilities space. With this partnership, the combined Oracle practice is expected to grow to over USD 125 million for FY13.

While KPIT gets a head-start in Brazil through this association, SYSTIME will be able to leverage KPIT’s capabilities to offer a comprehensive range of Oracle based solutions & services to the Oracle JD Edwards community.

“SYSTIME is an excellent strategic partner, and we are confident that our combined strengths will help us create a leadership position in the Oracle ecosystem. We welcome SYSTIME into the KPIT family and look forward to its role in achieving our target of reaching USD 500 million in revenues by end of FY13,” said Kishor Patil, MD & CEO, KPIT Cummins.

Vishal Grover, President and CEO, SYSTIME, said: “KPIT’s strong Industry expertise, larger geographic presence and a comprehensive suite of Oracle based offerings complement our strong relationships in Oracle JD Edwards’ space. We expect this to help us offer better value propositions to the Oracle JD Edwards community.”

The acquisition is subject to regulatory approvals and customary closing conditions.

About KPIT Cummins (http://www.kpitcummins.com/)

KPIT Cummins (BSE: 532400; NSE: KPIT), a trusted global IT Consulting and product engineering partner, is focused on co-innovating domain intensive technology solutions for Manufacturing and Energy & Utilities corporations. KPIT Cummins currently partners with 155+ global corporations helping them globalize efficiently & bring complex technology products/ solutions faster to their markets.

About SYSTIME (http://www.systime.net/)

SYSTIME is world's largest Oracle JD Edwards solution provider. SYSTIME helps companies make their business better by adopting technology solutions to address their operational challenges. Over three decades, SYSTIME has helped clients implement and manage JD Edwards and other business solutions. With SYSTIME, clients are assured of a transparent, responsive partner committed to their success. SYSTIME is an Oracle Platinum Partner in the Oracle Partner Network (OPN).

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