India’s information technology group Tech Mahindra is partnering with U.S.-Israeli Comverse Inc. to set up a research and development center in Israel.
Comverse Inc. (NASDAQ:CNSI) and Tech Mahindra announced they have reached a strategic relationship agreement, whereby Comverse will accelerate its transformation as a global innovator in digital services by leveraging Tech Mahindra’s expertise and scale in development and delivery of digital offerings. As part of this initiative, employees from certain functions within Comverse’s Digital Services business unit are anticipated to join Tech Mahindra. Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering, particularly in the global technology industry.
Tech Mahindra will complement Comverse’s R&D and engineering operations through innovation in product development techniques and just-in-time capability reinforcement. Tech Mahindra will bring its experience in developing and creating a start-up ecosystem that has helped launch path-breaking solutions for the connected world. The company will also enable global exposure and long-term career opportunities for the employees coming onboard from Comverse.
This relationship gives Comverse access to a flexible operating model to respond more quickly to changes in market demands and brings an influx of skills to expand Comverse’s delivery of innovative products for its customers.
“With this initiative, Comverse will significantly improve its ability to focus on its prime areas of growth and innovation,” said Philippe Tartavull, President and Chief Executive Officer, Comverse. “Our objective is to build a strong foundation through a transformed and more competitive Comverse, for our customers, our employees and shareholders going forward. We are excited to work with Tech Mahindra and take the relationship to the next level.”
“The onboarding of Comverse’s expertise will help Tech Mahindra significantly, as we are one of the comprehensive integrators of technology services to communications service providers. This move will help us augment our investments in startup ecosystems, research and development, and network services. I take this opportunity to welcome members of the Comverse workforce into the $16.5 billion Mahindra Group,”said CP Gurnani, MD & CEO, Tech Mahindra.
The majority of the employees who will come onboard with Tech Mahindra as part of this initiative are based in Israel, the United States and several countries in APAC and EMEA. Comverse is in the process of engaging with employee representatives on its plans in accordance with country-specific legal obligations. The program is expected to be implemented starting June 1, 2015.
Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions. Tech Mahindra is a USD 3.5 billion company with 98,000+ professionals across 51 countries, providing services to 674 global customers including Fortune 500 companies.
Tech Mahindra is part of India’s USD 16.5 billion Mahindra Group multinational conglomerate, which employs more than 200,000 people in over 100 countries. Mahindra has a leadership position in various industry sectors, including tractors, utility vehicles, information technology, financial services and vacation ownership.
Comverse provides true carrier-grade cloud-based and in-network monetization and revenue management software solutions that help global carriers and growing enterprises profitably enable the way people obtain and share digital experiences, today and tomorrow. The company supports digital lifestyles through a suite of proven and flexible solutions that includes managed BSS and Policy, Enterprise and Cloud Billing, and Digital Services, all guided by an experienced Managed Services offering. Comverse’s customer base spans more than 125 countries with solutions delivered to over 450 communication service providers and enterprises serving more than two billion subscribers. Comverse, Inc. was originally founded in Israel as Comverse Technology in 1997, and is headquartered in Wakefield, Massachusetts.]]>