RPG buys out Fujitsu stake in Zensar Technologies

The principal shareholders of Zensar Technologies Ltd. one of India's leading IT and BPO services providers, have concluded an agreement by which RPG will buy Fujitsu's stake in Zensar for an undisclosed sum. The agreement comes into force with immediate effect and the deal will be consummated shortly.

In an announcement today Chairman of RPG Group and Chairman of the Board of Zensar Technologies Ltd. Harsh Goenka said, "We are delighted that Fujitsu has agreed to sell us the stake in Zensar. This enables us to consolidate our shareholding in the Company, which has been performing extremely well in the last few years and opens up possibilities of major growth in the years to come.

A Fujitsu Services spokesman said: 'We are happy that this transaction has been amicably completed. We will continue to work with the Company's management to ensure that all present and future joint projects are executed professionally'.

Zensar Technologies Vice Chairman & Managing Director Dr Ganesh Natarajan said, "This shareholding change opens up avenues for growth that will see the Company realise its true potential in the coming years. We expect to achieve and exceed our performance guidance this year and are targeting a 50% plus growth for the coming fiscal. With a full management team, in place, excellent capabilities in all our service areas and a growing list of global customers, we look forward to moving to the next level of success."

About Zensar Technologies Ltd

Zensar Technologies Ltd is a leading provider of IT and BPO services with operations in over fifteen countries and over three thousand employees. The Company has delivery centres in Pune and Hyderabad in India and delivery operations in Shenzhen in China, Slough in UK, San Jose in USA and a new center coming up in Gdansk in www.zensar.com

Poland. It is pioneering a collaborative model of software development across geographies through the deployment of a Global Delivery Platform that connects its customers, centres and development partners.

The Company provides services in Applications Portfolio Management, Infrastructure Management and Independent Testing, Transaction processing and Interaction BPO, Innovative Technology solutions including Application Modernisation, Product Engineering and Embedded Systems and Enterprise Applications Services ranging from Oracle and SAP to Business Intelligence and Data Warehousing.

In the nine months concluded Dec 2006, the Company has grown its revenues by 43 % over the previous year with over 100 % jump in profits. The Company provides offshore outsourcing services to Fortune 500 and FTSE 100 companies and has developed an outstanding reputation for quality and innovation.