Plenum AG

M&A Activity • Apr 29, 2004

News Details

Corporate | 29 April 2004 11:50

plenum AG and Polaris Software Lab. agree strategic partnership

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– plenum AG and Polaris Software Lab. agree strategic partnership Wiesbaden, April 29th, 2004 plenum AG and the Indian-listed Polaris Software Lab. signed an agreement on April 29th, 2004 on an exclusive multi-year strategic partnership. The goal is to leverage the cost benefits provided by offshoring to provide its customers in the German-speaking market with high-quality IT solutions, while substantially reducing the risks involved. One of the key services provided by this strategic cooperation will be high- quality IT solutions for core processes at banks and insurance companies. However, the partners’ strengths also cover traditional offshore services such as migration and reengineering projects. Underpinning the cooperation is the “catalyst model” developed by the two companies. Under this model, plenum is responsible as lead contractor for providing direct customer support and advice, as well as for mission-critical local project tasks. This enables plenum to contribute its experience in optimizing IT processes and managing large projects, plus its industry expertise and access to the German financial ser- vices market. Polaris is responsible for implementing the software using its sophisticated offshore development process, the necessary infrastructure and its expert resources. As an offshoring partner, Polaris offers tried-and-tested, sophisti- cated IT solutions to more than 120 customers worldwide and has over 4,700 employees in its 10 development centers. The high quality of its services is also reflected by the fact that it was the first company in the world which achieve the highest standard for software process quality (SEI CMMi Level 5). Deutsche Leasing, the German market leader among independent leasing companies, is the first joint customer who benefit from the two companies’ combined range of solutions. Having already had extremely positive experiences with software services from India for several years, Deutsche Leasing is expecting a further increase in software development efficiency and quality from the partners’ joint offshore management model. The Managing Board of plenum AG believes that its decision to strengthen the company’s service offering is vindicated by this strategic partnership and the extremely positive customer response to date. It expects the partnership to boost business development in the second half of 2004 and fiscal year 2005, particularly in the area of large projects. Further information on the partnership and the combined service offering is available in our joint press release. end of ad-hoc-announcement (c)DGAP 29.04.2004 ——————————————————————————– WKN: 690100; ISIN: DE0006901002; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 291148 Apr 04