Nelito Systems, India’s financial technology company has approved an equity investment by DTS Corporation, Japan of a 44.5% stake in the company at the meeting of its Board of Directors on 24 March 2017.
The two subsidiaries of Tata Power (NELCO and Af-Taab Investment Company) and Sunnynook (AG Capital) have offered 9.95%, 12.30% and 22.25% stakes respectively from their equity holding in Nelito Systems to DTS Corporation.
Nelito Systems serves Banking, Finance and Micro-Finance verticals with its FinCraft suite of products primarily in India and South Asian countries. The company also provides IT services comprising of Application development and maintenance, Consulting and IT outsourcing.
DTS Corporation is a leading IT services company of Japan focused on banking and financial sectors and also has unique service offerings for Communication, Public Institutions, Distribution and Transport, Multimedia, Manufacturing (Automotive Industry, Embedded), Health care, ERP and Network integration.
“The association is in line with DTS Corporation’s overall growth objective. DTS foresees excellent opportunities to expand its business proposition by leveraging talent and experience that this association promises to garner. One of the key strategic objective of DTS with this investment is to expand its Global business particularly in US and SE Asian Countries by harnessing DTS and Nelito`s expertise in Banking and Financial domain” said Mr. Minoru Takeuchi, DTS Corporation. In addition to this, DTS strategy is to enhance their SI business, Solution business and offshoring business through its 100% subsidiary DTS America.
Commenting on the development, Punit Jain, CEO Nelito Systems said, “Nelito is amongst few Indian IT companies to have developed niche capabilities across products and services in the BFS space. The relationship with DTS will augment the organic growth opportunities for Nelito in the Banking & Financial services sectors globally. In addition, Nelito is uniquely placed to help DTS serve its customers better in English speaking countries. Our association with DTS will further strengthen our focus on providing Affordable Excellence to all our clients.”