Morris, NIIT enter joint venture for IT services

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Augusta-based Morris Communications has entered into a joint venture with an information technology company from India.

NIIT Technologies Ltd. said today that they will jointly offer IT and business process outsourcing services in North America.

"NIIT Technologies was selected as the preferred partner following a rigorous selection process. This partnership will significantly reduce our costs of operations and services, while improving the level of services required to meeting our objectives in the future," said Steve Stone, Senior Vice President and Chief Financial Officer of Newspapers and Shared Services at Morris Communications.

NIIT Technologies will have a controlling interest in the joint venture and both companies will jointly invest $85 million in the new venture over a period of five years.

Under the terms of the agreement Morris will transfer to the joint venture its key assets including IT infrastructure, people and application landscape.

"We are pleased to partner with Morris Communications, a significant player and a strong voice in the media industry. This is a strategic transformational deal which enhances our onshore presence to expand its footprint in the U.S. market," said Lalit Dhingra, president of NIIT Technologies.

Morris Communications' holdings include 13 daily newspapers, numerous nondaily and free community papers, 33 radio stations and two radio networks, two book publishing and distribution houses, numerous magazines and specialized publications, and more than 100 visitor publications.

NIIT offers application development and maintenance, managed services and business process outsourcing to organizations in financial services, travel, transportation, manufacturing and government sectors in North America, Europe, Asia and Australia.

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Batman
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Batman 07/13/11 - 12:59 pm
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Good grief...

Good grief...

seenitB4
96961
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seenitB4 07/13/11 - 01:16 pm
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Expand its footprint in the

Expand its footprint in the US market---just wondering--how many jobs in the US.......that's what we need.

JusticeLeague
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JusticeLeague 07/13/11 - 01:17 pm
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Relax folks - Clark Kent,

Relax folks - Clark Kent, Peter Parker and Billy Batson will remain with the newspaper side of the business.

Riverman1
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Riverman1 07/13/11 - 01:31 pm
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Pretty soon the Chronicle

Pretty soon the Chronicle will be run out of the corner of someone's second bedroom in a house in South Augusta. When you call them, you'll get the Indian company to answer your questions.

Imagine me trying to explain to them that Sean Moores has been picking on me or something. Heh. Then again it can't be any worse than "talking" to the current Chronicle staff who remind you of how bad the internet scum are. Just teasing you, Sean. The others, not so much.

Riverman1
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Riverman1 07/13/11 - 01:30 pm
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Does the Chronicle get any

Does the Chronicle get any motels in the deal?

seenitB4
96961
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seenitB4 07/13/11 - 03:23 pm
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It says will transfer assets

It says will transfer assets including people......but will sean like it in India??
I sincerely hope my personal calls/problems will be handled by people in the USA.

storiesihaveread
358
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storiesihaveread 07/13/11 - 04:50 pm
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Relax folks Sean will be

Relax folks Sean will be around as well as the paper itself. The company NIIT has it's North America headquarters in Atlanta. NIIT is a global company. They are going from off shore to on shore. NIIT is interested in the technology that Morris Communications has. Morris has made great strides for a media company to be on one platform that does all for the publishing industry. No other media company in the world has been able to do what Morris has done on the technology side.

Riverman1
93258
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Riverman1 07/13/11 - 06:48 pm
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Well if there are more

Well if there are more Indians, there have to be more chiefs.

Riverman1
93258
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Riverman1 07/13/11 - 06:51 pm
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The Morris Co is Untouchable

The Morris Co is Untouchable now.

Pu239
284
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Pu239 07/13/11 - 07:03 pm
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RM? are you trying to "curry"
Unpublished

RM? are you trying to "curry" favor?

Riverman1
93258
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Riverman1 07/13/11 - 07:08 pm
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Pu239, nah, they would

Pu239, nah, they would "caste" me away like a cheap lure on a spinning reel if I did that.

Riverman1
93258
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Riverman1 07/13/11 - 07:21 pm
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Maybe the Indians and the

Maybe the Indians and the Chronicle can work out a joint deal taking advantages of both their businesses. You know a synergistic effect. Maybe you sign up for a digital subscription to the Chronice and they will give you one free night at a Motel 6 on a Friday night, no questions asked and no writing down your tag number.

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