MindWave Enters Strategic Alliance to Aid Expansion
New collaboration with Japan's leading provider to meet growing demand for quality IT services.
- (1888PressRelease) December 20, 2012 - MindWave Solutions Pte Ltd, a fast-growing IT solutions and services company in the Asia Pacific region, today announced the completion of their business alliance with Nomura Research Institute, Ltd. (NRI) [Tokyo:4307], Japan's leading provider of consulting services and systems solutions, through shares acquisition via the latter's group company, Nomura Research Institute Asia Pacific (NRI APAC), headquartered in Singapore.
MindWave Solutions, since its establishment in 2005, has been rapidly expanding in Asia Pacific and currently provides IT support to its corporate clients in seven countries. The strategic alliance is expected to further strengthen NRI APAC's penetration in the Asian market as both partners continue to deliver high quality and innovative IT solutions in the region.
NRI APAC has acquired a minority stake in MindWave's total share value for an undisclosed sum. The collaboration is aimed to foster continuous innovation and leverage on both parties' solid expertise in the IT services industry.
Mr Vinod Menon, Chairman of MindWave Solutions, commented, "MindWave is excited about the partnership with NRI APAC and we look forward to our collaboration to bring more diversified and enhanced IT solutions to the industry. NRI APAC and MindWave share the common principle of delivering services of exceptional quality, and this has been a key factor behind the continuous trust and support of our clients."
Mr Menon is the Co-founder of MindWave and receiver of several industry accolades including the recent 'Top Entrepreneur 2012' under Rotary~ASME', 'Outstanding Entrepreneur Award 2011' by APEA and 'Spirit of Enterprise 2010'.
"MindWave has been privileged to enjoy immense growth in recent years. The key to moving forward is quality assurance and constant innovation. With the closing of this acquisition, we will continue to strive to create even more value for our clients," said Ms Aditi Nayak, Co-founder and COO, MindWave Solutions. Ms Nayak is a veteran in the entrepreneurial scene and was most recently awarded Champion of HR Finalist in the upcoming 10th HRM Awards 2013.
About Nomura Research Institute, Ltd. (NRI)
NRI originated from Nomura Securities' research section and IT section. NRI is the result of a merger that took place in 1988 between the former Nomura Research Institute, which was established in 1965 as the first private think tank in Japan, and Nomura Computer Center (NCC), which introduced Japan's first private use computer system in 1966. Since then, NRI has been providing consulting services on corporate strategy and business policy, as well as the development, operation and joint utilization of IT systems. With annual sales of 335.5 billion yen as of FY ended March 2012, NRI is now actively expanding its business worldwide. It has 19 offices in Asia, North America and Europe.
For more details about NRI (TYO 4307), visit www.nri.co.jp/english.
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