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NIIT invests in Deutsche Bank tech venture

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DQW Bureau
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NIIT, the global IT and knowledge solutions provider, has announced its

global strategic alliance with CoKinetic Corporation, a venture conceived within

Deutsche Bank last year. Deutsche Bank is a lead investor in this venture. KPMG

and the law firm of Weil, Gotshal & Manges are other investors in this

venture.

Over the past year, NIIT and CoKinetic have worked together on creating the

CoKinetic suite of products. With this investment and alliance, NIIT becomes

CoKinetic's key development outsourcing partner. The access to NIIT's e-business

expertise, large scale development capacity and its strong financial profile

will improve CoKinetic's speed to market, and enhance its ability to access and

service larger clients. For NIIT, the alliance provides new business

opportunities in applications development and integration space and enables NIIT

to provide better solutions to its clients who are seeking to protect their

legacy assets. As part of the strategic alliance, NIIT is making a financial

investment in CoKinetic.

"We're extremely excited about our partnership with NIIT and feel that

this alliance will enable CoKinetic to leverage the innovation and early mover

advantage CoKinetic has in the market. Our software tools and industry

experience combined with the world class development services provided by NIIT

will enable us to provide very high quality solutions to our clients

worldwide," said CoKinetic's CEO, Michael Baresich said.

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