Tenet announces Tenet Europe

BANGALORE: Bangalore-based Tenet Software has announced its European

subsidiary, Tenet Europe. Headquartered in Ulm, Germany, Tenet Europe will be

the main center of Tenet's product development, business management and

marketing activities for the European markets. For this purpose, Tenet has

teamed up with Germany’s Beam Enterprise and Sweden’s A Kraft to be its

strategic partners in Tenet Europe. In the new entity, Tenet will hold the 60

per cent while both Beam and A Kraft each will hold 20 percent each.

Speaking about the partnership, Rajendra Misra, Managing Director, Tenet

India Pvt Ltd., said, "Looking at Tenet's technological skills and large

pool of engineering resources in Telecom, Wireless Applications and e-business

areas, it makes perfect sense for Beam to partner with Tenet. Through this

partnership, Beam will develop products and solutions for our customers in

Europe. At the same time, A Kraft has the core competence in convergence

technologies and a very good understanding of the Scandinavian market place.

This provides a unique opportunity for Tenet Europe, both in terms of access to

advanced wireless technologies as well as the Scandinavian market."

As part of its expansion plans for the coming year, Tenet Software has plans

to open centers in Japan, Sweden, USA, France, UK and Scandinavia by tying up

with local companies. Tenet India has targeted a turnover of $ five million for

the coming year from the its domestic operations. Revenues of around $ 3to 5

million is what the company hopes to achieve from its global operations.