Focusing on Business Development and Sales Activities in Asian Region

The two companies signed a formal 50/50 joint venture agreement on July 31st, 2006. The intention is to start business development and sales activities with SMS-Genovate during the beginning of the fourth quarter 2006. SMS-Genovate will provide a range of services aimed at accelerating the implementation and deployment of business critical enterprise solutions.

Genovate brings to the partnership a wealth of experience in training, software services, healthcare and retail solutions. Genovate has specialised expertise in the Manufacturing and Financial Services industry where several turn key projects have been deployed. Genovate will also provide the partnership with access to the Asian marketplace via its extensive footprint in more than nine countries with offices in more than 15 cities. Genovate’s enterprise experience and credentials have enabled them to grow to become the largest Authorised SAP Training Partner in Asia Pacific.

SMS will contribute its 20 years heritage in the effective implementation and deployment of enterprise systems and business solutions. In particular, SMS’s domain knowledge in Change Management, Business Performance Improvement and Project & Programme Management will provide an essential ingredient to the SMS-Genovate partnership.

"We believe the cooperation with SMS, Australia's largest management services company, will enable us to create greater value for our existing and potential customers," said Mr. Anton J Ravindran, Group CEO and co-Founder of Genovate. "The joint venture will combine Genovate’s and SMS’s advanced technologies, products and services to create leading edge solutions to meet customers' needs. Genovate helps by bringing access to markets in Asia with its presence in several countries."

Commenting on the recently signed agreement, the Managing Director for SMS Management & Technology, Asia, Ms Paradee Thomas said, “The partnership with Genovate represents an outstanding opportunity for SMS to extend its unique value proposition to organisations in Asia. We are seeing strong demand for help with the effective deployment and implementation of end-to-end enterprise systems.” “We have already commenced discussion with several organisations and in particular expect strong demand in business solutions which can effectively improve the business bottom line, requiring solutions for Business Efficiency Improvement, Business Expansion, Compliance Management and Security Management.”