Press Releases
Eagle Investment Systems and Patni Computer Systems Announce Strategic Alliance
—Relationship provides expanded offerings to clients of both companies while reducing total cost of ownership and time-to-market—
BOSTON and PHILADELPHIA, June 20, 2006 — Eagle Investment Systems LLC (Eagle) and Patni Computer Systems, Ltd. (Patni) announced today that they have entered into a strategic alliance. The two organizations will work together to leverage their respective vision, technology and capabilities to offer the investment management community an industry-leading spectrum of services and an economic advantage that exceeds the capabilities of each company independently.
"Patni offers Eagle and our clients all of the advantages you would expect from a world class offshore provider. However, it is their in-depth knowledge of the investment management space, the innovative vision they share with us and their keen focus on building relationships that led to this alliance," said David Palten, Eagle president and chief executive officer. "Combined with Eagle's industry leading software and consulting services, Patni's scale, complementary services and aggressive creativity enable a prospect of growth and excellence for both of us that is truly exciting."
Vic D'Alfonso, head of the global financial services business unit at Patni, said: "This alliance represents a significant, new level of commitment to Eagle and to the asset management marketplace. It leverages Patni's integration experience within the middle- and back-office business areas both for IT services and business process outsourcing. Combining the services and product capabilities of both organizations adds a dimension to the portfolio accounting conversion and integration space that has not been available in the market until now."
About Eagle Investment Systems LLC
Eagle, a Mellon Financial CompanySM, is a global provider of financial services technology. Eagle's Web-based systems automate internal processes to support STP requirements of money managers, mutual funds, hedge funds, brokers, plan sponsors, banks, corporate trusts, and insurance companies. Eagle's data-centric platform supports the full investment process while offering specific solutions for reference data management, portfolio management, investment accounting, performance measurement, attribution and GIPS compliance, as well as reporting. Eagle can deliver your solution in-house or via Eagle ACCESS, its ASP service. To learn more about Eagle's solutions, contact us at 1.800.810.3819 or sales@eagleinvsys.com or visit www.eagleinvsys.com.
About Mellon
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing asset management, private wealth management, asset servicing, and payment solutions and investor services. Mellon has approximately $4.9 trillion in assets under management, administration or custody, including $808 billion under management. News and other information about Mellon is available at www.mellon.com.
About Patni Computer Systems.
Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI) is a global IT Services provider servicing Global 2000 clients. Patni caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications, and its technology-focused practices. With employee strength of over 12,000 and multiple offshore development facilities across eight cities; Patni has 23 international offices across the Americas, Europe and Asia-Pacific. Patni has registered revenues of US$ 450 million for the year 2005. Patni's service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services. Committed to quality, Patni adds value to its client's businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level 5 organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks. For more information on Patni, visit www.patni.com.