Mastek, a high-end IT solutions player with global operations providing new technology and intellectual property (IP)-led enterprise solutions, today announced the acquisition of Kognitio’s data migration offering comprising its Data Factory Tool Kit (DFTK) and data migration methodology.

With over forty man years of development invested in its software, the DFTK solution provides the technology to support the end-to-end data management environment covering all aspects of data processing in a data migration project. In addition, Philip Magnall, formerly the Vice President - Platform Rationalisation at Kognitio, has joined Mastek and will take on the role of Data Migration Manager, responsible for Mastek’s migration projects and consultancy offerings.

This transaction is the latest in Mastek’s move towards strengthening its position as an IP-led enterprise solutions provider, with Kognitio’s data migration tools and processes embedded at the heart of Mastek’s Migration Centre of Excellence.

For Kognitio, which has long been considered the industry leader in data migration for the insurance market, this transaction allows it to refocus its efforts on its data warehousing proposition and safeguard the future stability of the DFTK solution by incorporating it within a large and well-established organisation like Mastek.

Commenting on this initiative, Mike Brinsford, Global Head of Insurance, Mastek said: "We at Mastek are delighted to have Kognitio’s market-leading offering and expertise as part of our offerings portfolio. For many years Kognitio has been the standard-bearer for excellence in this field and we’re looking forward to combining their technology and methodology into our propositions. We have already completed the process of embedding the systems and carrying out all necessary knowledge transfer, and the DFTK solution is back in the market with a new home. Mastek will continue to explore and leverage opportunities to add excellence to its offerings in order to maintain our position at the top of the software solutions field."

Roger Llewellyn, CEO, Kognitio said: "This transaction with Mastek is a good move for us. Mastek has an unrivalled reputation in the insurance software market and by transferring Kognitio’s data migration offering to such a well-capitalised company as Mastek we are ensuring its long-term future. We are looking forward to focusing on the next stage of Kognitio’s development which lies in the enhancement of our data warehousing proposition."

About Mastek
Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide. With its principal offshore delivery facility based at Mumbai, India, Mastek operates across US, Europe, and Asia Pacific regions. Incorporated in 1982, Mastek has been in the forefront of technology, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries.

For more information and past results & conference call transcripts, please visit our web site
www.mastek.com (and/or the Investors section at http://www.mastek.com/investors.html). Updated disclosures regarding corporate governance may also be accessed in the web site's Investors section at: http://www.mastek.com/corporategovernance.html

Investor/analyst contact:
Abhinandan Singh
+91 22 2824-7864
abhinandan.singh@mastek.com

Media contact:
Sanjay Mudnaney
+91 22 2824-7745
sanjay.mudnaney@mastek.com

Shareholders may also contact Mastek via email at Investor_grievances@mastek.com, which has been specifically created for the redressal of investor grievances. You may also contact the Investor Relations team by email at investor.relations@mastek.com

Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.