Octaware Technologies Limited (BSE – 540416), a leading software development, enterprise solutions and consulting firm, is pleased to announce that they have signed a Memorandum of Understanding (MoU) with a Croatian firm, Golubica Parking d.o.o., Zagreb, for the establishment of a joint venture between the two companies, to be operational under the name, Octaware Europe. The JV has been signed, currently, for a period of five years, with a view of expanding Octaware’s global operations.
The 50:50 partnership between Octaware and Golubica, will help augment and expand business for Octaware’s key products & solutions, across verticals like healthcare, finance, and government. Some of the key products & solutions that Octaware will look to offer, through the JV are PowerERM, iOnAsset, Hospice, CloudERP, RealWin, Life2Care, eQuire (Office Automation, eProcurement), eDocNet etc. The joint venture will also bring in Innovative Software Solutions from the European market into India.
Commenting on the development, Mr. Aslam Khan, Chief Executive Officer, Octaware Technologies Limited, said, “We are glad about the joint venture, as it marks the entry of Octaware into the relatively untapped Eastern Europe market, and eventually the main European market. Octaware will jointly work with Golubica Parking to develop an online marketplace and a platform for parking solution for the Croatian market. Our partnership will also help in bringing Innovative Software Solutions from the European market into India. We are excited to partner with them, as we focus our combined energies serving a broader range of customers, with industry-leading products and solutions, riding on the back of opportunities presented to IT firms, post BREXIT.”
Speaking about the joint venture, Mr. Neven Sardelic, Director, Golubica Parking d.o.o., Zagreb, said, “Our partnership with Octaware Technologies is a concrete step in our business journey to further build on our solid foundation and would help us in achieving the goal of offering comprehensive products & solutions, across critical domains like healthcare, finance & government. This joint venture will inculcate global best practices in the company and would immensely help in creating enhanced value for our esteemed clients”.