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Jade Software Corporation signs MOU

Christchurch, 14 May 2007

Jade Software Corporation signs Memorandum of Understanding with CMC Limited of India

Jade Software Corporation announced today that it has signed a Memorandum of Understanding with CMC Limited (CMC), the publicly listed IT services company 51% owned by TCS and part of Indian industrial conglomerate TATA Corporation, which has annual revenue in excess of US$22 billion.

Jade Managing Director Dr Rod Carr said Jade has been seeking to establish a number of strategic relationships with partners to accelerate the rate of use and deployment of JADE technology and applications built in JADE. CMC represents such an opportunity.

“CMC is particularly interested in applying Jade’s innovative solutions to complex data management in logistics, homeland security and other emerging areas relevant to both the domestic Indian market as well as further opportunities in Asia, the Middle East, and North America,” Dr Carr said.

The Agreement formalises the relationship between Jade and CMC and provides consistency and focus for collaboration and co-operation. CMC, which began life as IBM India, now has 3,500 staff and annual revenue in excess of US$275 million. CMC is based in Mumbai with representation in India, Asia and North America.

CMC Managing Director Mr Ramanathan Ramanan has had an association with New Zealand for over 20 years. Under his initiative CMC formed a relationship with the e-Centre, Massey University at Albany, to seek out creative and innovative products which CMC could collaboratively take to the world.

“This is not about outsourcing development to India. This is a genuine opportunity to synergise and leverage a great New Zealand technology, a rapidly growing Indian technology services company and address global opportunities,” Mr Ramanan said.

ENDS



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