The Hindu Business Line : MinVesta Infotech signs deal with Canadian co

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Chennai Feb. 3 MinVesta Infotech, the IT products company of the Chennai-based staffing and human resources (HR) group, Ma Foi Management Consultants Ltd, has signed a memorandum of understanding (MoU) with the Canada-based Kumaran Systems.

MinVesta develops IT solutions for HR information management and HR staffing management and is currently working on a pay bill application. Kumaran Systems develops IT tools in application and database migration in areas such as retail, education, telecom and banking and financial services.

The MoU will give the companies access to each other's clients and in the process offer end-to-end solutions, said Mr K. Pandia Rajan, Managing Director and Chief Executive Officer, Ma Foi Management Consultants.

Based on a joint collateral model, each company would refer its clients to the other for a fee, while continuing to operate as two separate entities, said Mr Pandia Rajan at a press conference. The MoU is expected to generate revenues of at least 1 million for each company in a year, he said.

About 100 Ma Foi employees and about 400 Kumaran Systems employees are expected to work together as part of this MoU.

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