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Ness Technologies Awarded Offshore Contract by Dorado Corporation

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ByloCellhi   Friday, 12/16/05 10:32:39 AM
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Ness Technologies Awarded Offshore Contract by Dorado Corporation


Ness Technologies Awarded Offshore Contract by Dorado Corporation
Friday December 16, 7:01 am ET

HACKENSACK, New Jersey, December 16 /PRNewswire-FirstCall/ -- Ness Technologies Inc. (NASDAQ: NSTC - News), a global provider of information technology solutions and services, today announced that it has been awarded an offshore contract by Dorado Corporation, the leader in network-based software and services for the multi-trillion dollar United States home lending industry. Under the terms of the two-year contract, Ness Technologies will establish an R&D center at Ness Technologies' Managed Labs facilities in Mumbai, India.

The new center, called the Dorado Extended Development Center (EDC), complements Dorado's existing R&D resources located at the company's headquarters in San Mateo, California. The Ness team will assist Dorado Corporation with its product solution engineering group and future initiatives.

Ness Managed Strategic Services has two offshore centers in India, in Mumbai and Bangalore. Ness' Bangalore Center houses software R&D Labs for Independent Software Vendors (ISVs). Ness' Mumbai Center specializes in applications development, maintenance and support (ADM/S) and serves information technology (IT) and information systems (IS) organizations.

"In order to deliver our ambitious roadmap, we need to grow our capacity to translate rich intellectual property and content into generally available software," said Prashant Karnik, senior vice president, Product Solutions Group, Dorado Corporation. "Being a leading software vendor demands the ability to deliver quality products on time within a cost model adapted to our industry. By leveraging Ness' experience, talented personnel, and proven quality standards, we are poised to expand our position as a leading technology provider to the fast growing home lending market."

"Ness Technologies will leverage its rich experience of product lifecycle management and mature offshore process capabilities to help Dorado expand its solution development capacity and shorten its delivery cycles," said Shashank Samant, President, Ness Managed Strategic Services. "We are delighted to welcome a leading player like Dorado to our ISV ecosystem and look forward to building a strong and mutually beneficial partnership."

The Software Labs (Extended Development Centers - EDCs) at Ness' Bangalore and Mumbai Center manage and execute the software development and consulting work for engineering, maintenance and sustenance (Continuous Product Engineering - CPE); multi-platform and functional testing and certification; professional services or solutions organizations (customer funded developments); consulting and system-integration on client projects; support (level 2 and 3); tech-pubs and training organizations of the client ISVs.

About Dorado Corporation

Dorado Corporation delivers an on-demand network of applications and services to the home lending point of sale. Dorado's innovative network-based solutions are utilized by numerous top- and emerging-tier lenders and today enable more than 200,000 lending professionals to increase efficiency and productivity at the point of sale. The solutions also drive cross-sell/up-sell opportunities by increasing workflow flexibility and simplifying technology integrations for leading lenders such as Chase Manhattan Mortgage Corp, Citi, Countrywide Home Loans, and Washington Mutual. www.dorado.com.

These are my personal comments, observations, opinions and should not be relied upon for any investment decisions, and as always read the SEC filings for the facts of the company
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