NEW YORK, November 7 /CNW/ - Misys (LSE:MSY), the global application
software and services company, today announces a partnership with Wipro
Limited (NYSE: WIT), the leading IT services provider across the globe, to
increase its services capability in the Middle East as part of its strategy to
capture growth in rapidly expanding markets.
Wipro will establish a Centre of Excellence around Misys Opics Plus to
expand distribution capacity and accelerate delivery of award-winning
solutions to customers. Utilising Misys' leading technology will enable
financial institutions in the region to benefit from the rapidly expanding
financial market trading structures and broader asset classes.
Pre-tax profits of financial institutions in the Middle East grew by more
than 30% on average last year, according to The Banker. Technology is widely
seen as crucial in driving productivity improvements and providing access to
new, complex instruments, as firms in the region capture increased market
share and compete in a global marketplace. Tower Group, the research and
advisory services firm focused exclusively on the global financial services
industry, estimates that IT investment in the region's financial services is
expected to grow by more than 10% a year over the next 4 years, from $3.5bn to
$5.7bn in 2011.
Inci Kaya, analyst at TowerGroup comments: "The Middle East is a market
that no global institution or technology vendor can ignore. As institutions
realize the need to make their systems meet international requirements, they
are investing more seriously in technology in the region."
Eileen McPartland, EVP Global Sales, Services & Support, Misys comments:
"Today, we're announcing a significant step forward in the development of our
Global Services business as we continue to increase our investment in the
Middle East, an important growth region for Misys. Working with Wipro to
establish a Centre of Excellence will enable us to deliver tangible business
results for our customers faster and more efficiently."
Roop Singh, Vice President - Financial Services, Wipro says: "The
alliance complements Wipro's strategy of partnering with leading solution
providers to deliver business value to customers globally. Wipro has an
established presence and proven track record in the Middle East region and
this relationship is a step forward to deliver innovative new solutions to our
customers and prospects. We are excited by the synergy arising from this
partnership, which delivers a compelling value proposition to our customers."
More than 150 financial institutions currently use Misys Opics solutions
About Misys Opics Plus
Misys Opics Plus is an award-winning front-to-back, cross-asset solution
that processes a wide range of financial instruments. The solution handles
vanilla and complex derivatives, fixed income, and equity and treasury trades
and enables higher volume trading, better risk management, and increased
margins through greater operational efficiencies.
About Misys plc
Misys plc (LSE:MSY), provides integrated, comprehensive solutions that
deliver significant results to organisations in the financial services and
healthcare industries. We maximise value for our customers by combining our
deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with
over 1,200 customers, including all of the world's top 50 banks. In
healthcare, Misys is a market leader, serving more than 100,000 physicians in
18,000 practice locations and 600 home care providers. Misys employs around
4,500 people who serve customers in more than 120 countries.
We aspire to be the world's best application software and services
company, delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results
Contact us today, visit: www.misys.com
Wipro Technologies, a division of Wipro Limited (NYSE: WIT) is the first
PCMM Level 5 and SEI CMM Level 5 certified global IT services organization.
Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across
offshore and onsite development centers. Wipro is one of the largest product
engineering and support service providers worldwide. Wipro provides
comprehensive research and development services, IT solutions and services,
including systems integration, information systems outsourcing, package
implementation, software application development, and maintenance services to
In the Indian market, Wipro is a leader in providing IT solutions and
services for the corporate segment in India, offering system integration,
network integration, software solutions and IT services.
Wipro also has a profitable presence in niche market segments of consumer
products and lighting. In the Asia-Pacific and Middle East markets, Wipro
provides IT solutions and services for global corporations. Wipro's ADS' are
listed on the New York Stock Exchange, and its equity shares are listed in
India on the Stock Exchange - Mumbai, and the National Stock Exchange. For
more information, please visit our websites at www.wipro.com and
For further information:
For further information: Misys plc Josh Rosenstock, +44-(0)-20-7368-2336
Mob: +44-(0)-7921-910-914 firstname.lastname@example.org or Wipro Abhishek
Mendiratta, +1-732-789-8646 email@example.com