Dubai: Zensar Technologies Limited, a listed Indian information services firm, is partnering with Agile Financial technologies in a bid to increase the size of its operations in the Arabian Gulf.
A statement is expected to be posted on the Indian Stock Exchanging on Monday announcing the tie up that will see the Zensar use its solutions to support Agile’s banking and insurance product suites in the region.
Ganesh Natarajan, vice-chairman and chief executive of Zensar, said in Dubai on Sunday that the deal was the result of six months of negotiations between the two companies. The deal will not see a 50/50 split in revenue. Instead, revenue sharing will be dependent on the involvement of each company in each deal, Natarajan said.
Natarajan also said he expects the deal to lead to rapid growth for Zensar operations in the Arab Gulf with the region expected to contribute 5 per cent of revenue by 2017. The Indian company currently pulls in around $400 million (Dh1.46 billion) in revenue annually, Natarajan said.
The partnership is part of a wider strategy that could see the two companies partnering in Australia, Singapore and in eastern South Africa, Natarajan said.
Zensar expects its operations to grow in the UAE, Saudi Arabia, Bahrain and Qatar, with the majority of customers to come from the government sector. There no immediate plans to expand into the wider Middle East, Natarajan said.
