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February 5, 2010

DataArt Forges Strategic Partnership With MP Capital

DataArt, a New York-based software development company, has formed a strategic partnership with MP Capital to deliver technology solutions to the capital markets industry in EMEA.

By CBR Staff Writer

The partnership brings together the software engineering capabilities of DataArt and the team at MP Capital, focused on consulting, requirements, architecture and business process optimization. The combined service offering intends to focus on front, middle and back office solutions serving the clients on buy- and sell-side, including alternative asset managers and world-leading investment banks.

MP Capital and DataArt have been working together on client projects for the past 12 months and tested the relationship to assure that the resources and respective business cultures were compatible to bring their services to the market jointly.

Alexei Miller, executive VP of DataArt, said: “DataArt has long advocated multi-sourcing: a practice where clients pick the best vendors from the market based on their expertise in a particular task. Having two leading vendors establish an efficient direct working relationship makes it easier and, ultimately, more efficient for clients to work with both companies’ resources. We have been very impressed with the deep domain expertise, leadership and innovation that MP Capital teams have shown on our joint projects and are looking forward to a successful partnership.”

Manish Patel, CEO of MP Capital, said: “The strategy to combine resources through the partnership was in direct response to our clients’ demands, as two things were evident: the post economic crisis caused an increased focus on banks to deliver upon strategies quickly and without the burden of heavy investment in infrastructure and resources; and outsourcing within specialist areas of banking generally underperformed.

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DataArt, an outsourcing company with industry-specific expertise in financial technology, online travel, telecom and media sectors, offers enterprise application development, system integration and business automation tools.

The UK-based MP Capital is a management consultancy, providing advisory services within the financial sector.

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