NIIT Tech & Adecco SA Announce Joint Venture

JV to focus on providing IT expertise for Adecco clients

NIIT Technologies Limited, a global IT solutions organization headquartered in New Delhi, and Adecco SA, a Fortune Global 500 company and the global leader in Human Resources services-through its wholly-owned subsidiary Ajilon Holding Europe BV-have announced a joint venture to deliver world-class application software development and maintenance solutions to Adecco's clients.

(From left) Jean-Manuel Bullukian, Chief Information Officer and President of Adecco S.A., Rajendra S. Pawar, Chairman of NIIT Technologies Ltd, Dieter Schieff, Chief Executive Officer of Adecco S.A., Arvind Thakur, Chief Executive Officer of NIIT Technologies Ltd, and Dominik de Daniel, Chief Financial Officer of Adecco S.A., at a ceremony in New Delhi on Thursday for the signing of a Joint Venture agreement between the two companies.

An agreement to incorporate the joint venture was signed today in New Delhi by Dieter Scheiff , Chief Executive Officer of Adecco SA, and Arvind Thakur, Chief Executive Officer of NIIT Technologies, in the presence of Adecco Chairman Klaus J Jacobs and NIIT Co-founder & Chairman Rajendra S Pawar.

Dieter Scheiff said: "Adecco is keen to develop its successful HR solutions business in India, which we invested in a couple of years back. We would like to leverage on the capabilities in technology services by partnering with NIIT Technologies in this joint venture, which will provide IT services to Adecco clients around the world. The move will enhance Adecco's ability to offer a full range of flexible solutions to deliver the IT expertise that its clients require for their short- or long-term needs."

Commenting on the joint venture, NIIT Technologies Chairman Rajendra S Pawar said, "We are delighted to partner with Adecco-the global leader in Human Resources services. This joint venture is a strategic move for both companies-providing Adecco with world-class offshoring capabilities and NIIT Technologies with the opportunity to service a new segment of customers."

The joint venture will leverage the competencies of both organizations-it will support Adecco's newly-founded IT Business Line with its global client base. NIIT Technologies will create and maintain a delivery organisation capable of providing services of the highest quality.

The initiative was spearheaded by Jean-Manuel Bullukian , Chief Information Officer & President (Engineering and Information Technology), Adecco S.A., who said: "This partnership is important as it provides Adecco with a platform to improve internal cost structures, speed up application implementation and enhance service levels in the IT Services Division."

The joint venture company will be known as Adecco-NIIT Technologies Pvt Limited, subject to approval from the Registrar of Companies, and will have equal participation from both NIIT and Adecco.

About NIIT Technologies
NIIT Technologies, a global IT solutions organisation, services customers in North America, Europe, Asia and Australia. It offers services in application development and maintenance, enterprise solutions including managed services (e.g. service desks or operations management), and business process management to organisations in the financial services, transportation, retail, manufacturing and government sectors.

NIIT Technologies follows global standards of development, including an ISO 9001:2000 certification, assessment at Level 5 of both SEI- CMMi and People-CMM frameworks and BS 7799 information security management certification. NIIT Technologies' Thailand operations are assessed at the international BS15000 IT management standards.

NIIT Technologies' subsidiaries, NIIT SmartServe Limited and NIIT GIS Limited, offer Business Process Management and GIS Solutions, respectively.

About Adecco
Adecco S.A. is a Fortune Global 500 company and the global leader in HR services. The Adecco Group network connects over 700,000 associates with business clients each day through its network of over 33,000 employees and 6,600 offices in over 70 countries and territories around the world. Registered in Switzerland, and managed by a multinational team with expertise in markets spanning the globe, the Adecco Group delivers an unparalleled range of flexible staffing and career resources to corporate clients and qualified associates.

Adecco S.A. is registered in Switzerland (ISIN: CH001213860) and listed on the Swiss Stock Exchange with trading on Virt -x (SWX/VIRT-X: ADEN), the New York Stock Exchange (NYSE: ADO) and Euronext Paris - Premier Marché (EURONEXT: ADE).