Mitsui invests in Vertex Software 

Vertex Software (P) Ltd has entered into a strategic partnership with Mitsui & Co Ltd of Japan, involving equity participation. Mitsui has been ranked at #11 in the Global 500 Fortune Companies and is the third largest company in Japan.

Mitsui will invest in the equity of Vertex and will also promote Vertex services to its numerous group/associate companies in Japan, Europe and US and through its worldwide offices and networks.

Vertex is a five-year-old company, which was started in Pune by four IT professionals in 1996. Initially the focus was on providing IT solutions to engineering companies in and around Pune. From 1999 onwards, Vertex achieved significant breakthroughs in developing a strong clientele globally, including Fortune 500 clients like Mitsui & Co Ltd, Toyo Engineering, Furukawa Information Technology and Avantium as well as small and medium sized software clients in Japan, Singapore and US.

Currently, Vertex has a total of over 80 professionals working in its Pune, Tokyo and Boston offices. It has a development center in Pune. Vertex's management team consists of alumni from institutions like MIT, USA, IITs and Indian Institute of Science.

Addressing the press conference, Ajit Patil, CEO, Vertex Software said, "Japan is the second largest software market, which has a high entry barrier because of language issues and business/cultural differences. We have been working in the Japanese market for the last four years and have developed competence in the language skills and in the understanding of business and cultural issues. Also, we now have a good foundation of a strong clientele in Japan. Our strategic tie-up with the global giant Mitsui will help us propel in the untapped Japanese niche market. Also, Mitsui's global offices, associates and networks will be of great help in the US and European markets."

Ashok Kalluraya, Chairman, Vertex pointed out that the fact that Mitsui has chosen to invest in Vertex during a recessionary environment, is a strong vote of approval on the company's strong growth prospects and potential.

The core strengths of Vertex are its design and architect skills in developing next generation software tools and services and its comprehensive skill sets in addressing the world's second largest software services market of Japan. 

Takahisa Iwasaki, GM, Mitsui said, "After working with Vertex over the past three years, we are convinced of the huge market for Vertex's services in Japan."

Cyber News Service