NIIT Technologies Limited, a leading global IT solutions organisation, has expanded its partnership with Adecco SA, a Fortune 500 company and a leader in human resource services, thereby consolidating their relationship.
The two already have a joint venture agreement and the new partnership replaces the earlier one. Under the partnership new agreement, NIIT Technologies has been designated as a preferred vendor for Adecco's IT outsourcing programme.
"The renewed partnership provides Adecco with a platform to improve internal cost structures, speed up application implementation and enhance service levels," Patrick De Maeseneire, CEO of Adecco SA, said.
By shifting the focus of the relationship from the joint venture to NIIT Technologies, both the companies would substantially derive more value.
"The partnership as a preferred vendor will enable us to engage in more significant value-added projects," Arvind Thakur, CEO of NIIT Technologies, said.
Adecco and NIIT Technologies had set up a joint venture in April 2007, which remained dormant due to the many structural changes necessitated in wake of the economic slowdown. With the new collaboration agreement in place NIIT Technologies will acquire all of Adecco shares in the joint venture.