BWI: Maveric Systems Enters into a Strategic Partnership with Wareef United of Saudi Arabia

Press release from Business Wire India
Source: Maveric Systems
Thursday, December 18, 2008 11:55 AM IST (06:25 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
Release no: 18769
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Maveric Systems Enters into a Strategic Partnership with Wareef United of Saudi Arabia
Consolidates its Presence in Middle-East Market in the Independent Software Testing Space

Chennai, Tamil Nadu, India, Thursday, December 18, 2008 -- (Business Wire India) -- Maveric Systems, one of India's leading dedicated software testing company with a strong presence across UK, USA, Middle East and Indian Market, today announced their partnership with Wareef United, a leading service provider in the banking and insurance verticals in the Kingdom of Saudi Arabia, to offer independent software testing services. Through this partnership Maveric Systems expects to rapidly scale up its operations in Saudi Arabia. Maveric Systems is investing in the Saudi market by ramping up a sales team and expects over 1.5 Million USD in sales from the region over the next 12 months.

Wareef United which is a leading "one-stop" IT solution provider in Saudi Arabia for banks, financial institutions, insurance companies, engineering and manufacturing companies, will work closely with Maveric to carry Maveric's unique offering in software testing to its client base in Saudi Arabia.

"This partnership with Wareef United is a key milestone in Maveric's growth path in the Middle East region. Wareef brings rich experience and very strong client base in the banking vertical which happens to be one of the strengths of Maveric. I therefore see a very strong synergy in this partnership. Middle East is an integral part of Maveric's international expansion plans. We expect Middle East to grow from being 20% of our revenues to 30% over the next 18 months" said Mr. Ranga Reddy, Chief Executive Officer, Maveric Systems.

Mr. Reddy added "through this partnership, we expect to contract three new clients in the Saudi market over the next 6 months".

Said Dr. Abdulaziz Al-Oshban, Principal & Managing Director, Wareef United, "Saudi market is poised for rapid growth over the next 18 months with large IT investments being made by Government and Business Corporations. At Wareef United, we were exploring partnership opportunities for setting up a testing solution centre and we feel that Maveric and Wareef have complementary capabilities. This alliance will be a winning proposition for our customers since they'll benefit from Maveric's strong vertical centric design and test execution capabilities combined with Wareef's focus on program and client relationship management".

About Maveric Systems Ltd

Maveric Systems Ltd. is one of India's top three independent software-testing companies since the year 2000. Over the past eight years, Maveric has been pioneering the outsourcing model in software testing. Maveric has successfully moved up the value chain in software testing by taking clients away from a resource augmentation model to provide value added IP-led services that significantly enhance quality of applications deployed by clients. As a leading pure-play, independent software testing company, Maveric today has multiple delivery locations in India, UK, Middle East and USA. Maveric's impressive client list includes a wide array of leading software product companies, system integrators and financial institutions. With a dedicated talent pool of testing professionals, Maveric has been growing rapidly over the past five years.

For more information on Maveric Systems, please visit www.maveric-systems.com.

About Wareef United

Wareef United is a "One Stop" Information Technology Solution provider with exceptional strengths in the banks and financial services vertical. Wareef United is based in Riyadh and offers core banking, consumer e-banking, corporate e-banking, document management and imaging technologies, web based cash management, treasury & wealth management, internet/intranet solutions, brokerage solutions, asset & portfolio management solutions, ERP products & solutions, CRM solutions, data warehousing solutions, transaction based pricing and billing solutions, end-to-end infrastructure management services and custom software development services.




CONTACT DETAILS
Srikkanth. M, Maveric Systems, +91 (044) 28207690, Srikkanthm@maveric-systems.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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