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|March 31, 1999||
IBM picks stake in Transactions TechIBM Global Services India has purchased 5 per cent stake in Transaction Technologies Limited, the promoting company of Equifax Venture Infotek.
Announcing the investment, Dhruv Khaitan, chairman, EVI, said, ''The equity investment by IBM Global services further strengthens their commitment to servicing EVI's technology needs which are poised to grow in keeping with the explosive growth of the credit card industry. With the expertise, commitment and support of our two organisations, the industry will continue to have access to worldclass services designed to provide flexible solutions.''
The organisations will work together to provide banks and financial institutions in India with technology and services with low-entry costs. By accessing end-to-end solutions at minimal upfront investments and low risks, banks will be able to flexibly design programmes that will operate efficiently and profitably with very high levels of availability and security, a statement claimed.
The strategic partnership with IBM Global Services India provides EVI with a single source for all its information technology needs, it strategy, systems integration, facilities management services, cutting edge technology and solutions.
This enables EVI to provide worldclass service to its customers. The partnership has been successfully leveraged to set up infrastructure, which compares with the best in the world and helps reduce costs, by economies of scale.
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