Cambridge, MA/ Mumbai, India, July 11, 2006 - Patni Computer Systems (BSE:
PATNI COMPUT, NSE: PATNI, NYSE: PTI) announced that they have been selected by
insurance software solution provider, InsureWorx, to provide resources and services
for Quality Assurance (QA) testing, software maintenance, and implementation
services for InsureWorx's PowerSuite solution. The Patni/InsureWorx relationship
enables InsureWorx to enhance the bandwidth available to their IT and professional
services staff to leverage a broader set of quality and cost-efficient resources for their
development and client support efforts.
InsureWorx turned to Patni because of Patni's wealth of knowledge and experience in
the insurance market, coupled with its extensive and proven technology expertise.
The two organizations have been working together on projects since February of this
year, with the success of these early efforts fueling the decision to expand and
formalize the relationship.
"Patni was chosen as a strategic partner to InsureWorx after extensive due diligence
and we are pleased with the results," said Pat Moscarelli, Senior Vice President of
Operations at InsureWorx. "We partner on a number of initiatives and have
unlocked considerable value to our end customers by leveraging Patni's global delivery
capabilities."
Bill Budde, Senior Vice President and head of the Insurance Business Unit at
Patni, added, "We are pleased to have been selected by a market leader like
InsureWorx. They have the winning combination of a leading software solution and an
outstanding team of dedicated and skilled professionals. With the synergy between
our two teams, we look forward to a long and mutually beneficial relationship."
About InsureWorx
InsureWorx, located in the San Francisco Bay Area, (Oakland) California and Denver,
Colorado, is a leading provider of browser-based software solutions to the insurance
industry. The flagship PowerSuite product line includes core-processing solutions for
Workers' Compensation and other Commercial Property & Casualty and Risk
Administration lines of business covering full enterprise claims, billing, underwriting
and policy administration functionality. For additional information on InsureWorx,
please visit www.insureworx.com, or call 800.785.4526.
Note: InsureWorx, PowerSuite, PowerSuite Policy, PowerSuite Claims and PowerComp
are trademarks of InsureWorx.
About Patni
Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI) is a global IT Services provider servicing Global 2000 clients. Patni caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications, and its technology-focused practices.
With employee strength of over 12,000 and multiple offshore development facilities across eight cities; Patni has 23 international offices across the Americas, Europe and Asia-Pacific. Patni has registered revenues of US$ 450 million for the year 2005.
Patni's service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services.
Committed to quality, Patni adds value to its client's businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level 5 organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks.
For more information on Patni, visit www.patni.com.
Safe Harbor:
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Patni has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For editorial queries please contact:
Sriya Kodial
Text 100 for Patni Computer
Systems
Tel:+1.617.399.4918
sriyak@text100.com |
|
Vivek Padiyar
Text 100 India for Patni
Computer Systems
Tel: +91.22.56595519/20
vivekp@text100.co.in |
| |
|
|
Colin White
Patni Computer Systems
Tel:+1.617.914.8337
colin.white@patni.com |
|
|
|
