PUNE, INDIA: Sprint Nextel Corp., the third largest wireless provider in the United States, and Persistent Systems, a leader in outsourced software product development (OPD) services, announced the formation of a joint venture. The joint venture will provide national long distance, international long distance, internet services and managed network services in India.
Sprint International Holding Inc. will own 74 percent and Persistent will own26 percent of the equity in the joint venture company. Sprint International’s investment in the joint venture is subject to the approval of the Indian Foreign Investment Promotion Board. The joint venture will commence its operations after regulatory approvals are received.
Dr. Anand Deshpande, CMD, Persistent Systems, said: “We are excited to partner with Sprint Nextel. Sprint is a technology leader in the wireless and wireline businesses and we believe that through this joint venture, we will be able to better service Sprint’s customers who are keen to grow their business in India. Telecom business is a growing segment for Persistent and our strategic partnership with Sprint further strengthens our position in the telecom business.”
The Telecom Business Unit at Persistent focuses on 3 sub-verticals within the telecom domain -IP Communications, OSS/BSS and Mobility. With over 1,000+ engineers and over two decades of relevant experience, Persistent is the partner of choice for many Telecom ISVs, Network Equipment Vendors, Telecom Service Providers and Enterprises. Persistent has worked on all facets of telecom technology and end-to-end product development services across the telecom portfolio.
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