Information technology solutions provider Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) said that its Software Product LabsSM unit's global development center in Bangalore, India, has won deal with Loyalty Partner Solutions GmbH to extend its software product engineering capability.
Loyalty Partner Solutions expects to invest up to $6 million with Ness over the three year engagement.
The Ness unit will help build the next generation of Loyalty Partner's Loyalty Management Suite (LMS). Ness Software Product Labs president Holly Ripley-Boyd said, "We are pleased to partner with Loyalty Partner Solutions on their global software development initiatives as they bring their new suite to market and expand their market opportunity."
Loyalty Partner subsidiary Loyalty Partner Solutions is a European provide of loyalty program management solutions to the retail, travel and transportation industries. The company provides the technology behind Payback, Europe's largest loyalty and bonus program, and the loyalty programs of Deutsche Bahn AG, Germany's national railway company, as well as one of the largest European airlines.
Ness shares closed at $6.27 on Friday, giving a market cap of $238.28 million. The share price has risen 5.6% so far in January.
Published by Globes [online], Israel business news - www.globes-online.com - on January 16, 2011
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