NIIT Tech forms $3mn JV with Swiss co Adecco

New Delhi, Sep 7: NIIT Technologies Ltd today entered into a 50:50 joint venture with Switzerland-based human resource company Adecco SA, with an initial investment of three million dollars, to provide composite personnel and software solutions.

The joint venture company, Adecco-NIIT Technologies Pvt Ltd, will be set up in the national capital region. The partners are aiming at 140 million dollars of revenue in the first five years of company's operations.

As per the agreement signed between NIIT Tech and Adecco's subsidiary Ajilon Holding Europe BV here, both the partners will make equal investment of 1.5 million dollars each.

NIIT will provide the technical know-how and software solution for efficient execution of services to the clients of the new company.

Adecco, on the other hand, will provide the human resource services to them.

This partnership will provide Adecco, a Fortune 500 company, with an opportunity to stregnthen its presence in India.

''Through 35 branches in 23 cities, we have 1,100 clients in India out of which 25 are global players. In addition to this, we have 600 cosultants and 27,000 associates here. With the new joint venture company, we expect to consolidate our position in the Indian market,'' Adecco (IT, Engineering and Technical) President Jean-Manual Bullukian said.

Adecco is aiming to achieve a two-fold goal with this joint venture. First, to increase the efficiency of its newly-found IT, engineering and technlogy business and second, to develop an offshore platform for its global clients for these services.

The reason for choosing India for a joint venture was the booming Indian software sector in which NIIT is a major player, Mr Bullukian added.

''We believe with NIIT Technologies expertise in the field, we will be able to provide world-class services to our clients.'' The joint venture company will set up its own infrastructure and have an employee force indepedent of both the patners. ''The company will not have present employees of either of the company. Instead, it will create its own workforce and infrastructure. However, initially it may have some technical staff of NIIT,'' NIIT Tech's Chairman Rajendra S Pawar told reporters here.

UNI