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Datamatics Global Services Creates Joint Venture with CIGNEX Technologies, Inc.

Jul 23, 2010, 12:00:00 PM

Mumbai, July 23, 2010: Datamatics Global Services, Inc., the U.S. subsidiary of Datamatics Global Services Limited (BSE: 532528; NSE: DATAMATICS), provider of smart, artificial intelligence-enabled next-generation solutions that address the customers' business challenges, and CIGNEX Technologies, Inc. the U.S. subsidiary of CIGNEX Global Holding Corporation, provider of commercial Open Source solutions globally, today announced the creation of a Joint Venture called "Datamatics CIGNEX, LLC".

The Joint Venture will market innovative, next-generation Open Source solutions to enterprises globally.

Rahul Kanodia, Vice Chairman and Chief Executive Officer, Datamatics Global Services Limited, said, "The economic turmoil has highlighted the benefits of Open Source software, which offers credible alternatives to high-cost, proprietary enterprise applications at a fraction of the cost without recurring high upgrade and maintenance costs of enterprise applications. This Joint Venture will leverage the domain and technology strengths of both organizations to address the business challenges of customers worldwide."

Jeff Colvin, Chief Executive Officer of CIGNEX, highlighted "Both Datamatics and CIGNEX are very excited about this JV. The economic recession over the past 18 months has increased the demand for reducing Total Cost of Ownership (TCO) while rolling out new IT systems. The JV is a very effective mechanism to extend the commercial Open Source relationships and expertise of CIGNEX to the clients of Datamatics. Over the last ten years, CIGNEX has been helping customers experience savings in TCO of up to 90% by adopting commercial Open Source solutions. Datamatics, with its focus on driving business efficiency & productivity is an ideal partner for us due to our shared belief on adding value to our customers."

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