Factonomy Ltd, a Scottish vendor of innovative enterprise business solutions, announced today that they have completed a deal with product development firm Infospectrum Pvt Ltd to partner in the development of systems for two leading US banking clients as the first part of a long term arrangement expected to be worth $700,000 in the current year.Infospectrum is a leader in the outsourcing of product development and has operations in India, the USA and Europe.
Graeme Bryce, Chief Executive Officer for Factonomy, who signed the agreement with Infospectrum commented, "We are particularly pleased to have found an expert partner in India that understands fully the complex challenges of a global software product strategy, which requires extremely agile working and exceptionally high standards."
Amitabh Shrivastava, Director and Head of Worldwide Customer Delivery, said the feeling at Infospectrum was one of excitement to be working with the Factonomy Framework as it is an great enabler when producing enterprise class solutions, defect free, within a timescale that was previously impossible.
The deal was agreed during a mission of Scottish companies to India for the Nasscom Leadership Forum. The visit was led by Scottish Development International - the government agency which seeks to further strengthen and grow trade and investment links between Scotland and India across key industries where expertise and knowledge can be exchanged to support both countries growth ambitions.
"This is a great example of the Scotland and India working together to provide global solutions. I congratulate both companies on their agreement and their undoubted success in the future," said Mark Dolan, Country Manager India, Scottish Development International.
"This exciting development is one more example of the great strength and tradition of Scottish company innovation and development expertise and events such as the NASSCOM Leadership Forum are the ideal platform for Scottish and Indian firms to establish more mutually beneficial partnerships. We are delighted with the successful outcomes of this years event," he said.