NIIT invests in Deutsche Bank tech venture

BANGALORE: NIIT has formed a 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 and Manges are other investors in this venture.

CoKinetic addresses the issue of creating Web-delivered applications with user interfaces whose features and complexity match those of desktop applications and the associated challenges of integration and reliable deployment of Web applications especially in a complex environment involving legacy systems.

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.

"This alliance is another step in leveraging strategic alliances to address new market needs," said Vijay K Thadani, CEO of NIIT. "CoKinetic has an early mover advantage in providing a new category of e-business tools. CoKinetic's I3ML based tools significantly enhance interface capability and protect legacy investments. The alliance is already on to a fast start with CoKinetic outsourcing most of its development to NIIT ". CoKinetic's CEO, Michael Baresich said, "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. "