Dutch banking group ING Groep NV has signed up Indian software services company iGATE Global in a $20m deal to provide data center operations, network management, as well as local and remote support to ING Vysa, an India-based banking joint venture.
The deal follows iGATE’s recent acquisition of the business and assets of IdeaSpace, a firm controlled by India’s GMR Group, ING’s partner in the bank ING Vysa, which provided technology services to the JV.
A spokesperson for iGate has said that the deal could potentially open the doors for iGATE to do work for ING’s global operations in addition to providing back-office and analytical work for ING Vysya.
ING, which owns 44% of the Indian bank, has already been using New Delhi-based NIIT for offshore services since 1999. ING has outsourced a series of major projects to NIIT including the continuous maintenance of ING’s constantly evolving Project Information Tracking System; participation in the development and design of ING’s first Shared Service Center for mortgages in the Netherlands; the establishment of the first Global Support Competence Center; and the upgrade of a common payment system for ING Europe. The NIIT/ING team has grown from four people to over 100 since 1999.
ING officials have not made any immediate comments on iGATE’s possible role in the Dutch group’s global work.
This article is based on material originally produced by ComputerWire.