|Hartford, CT, November 19, 2007 -- Keytech LLC, a leading IT consulting firm based in Hartford, CT and Lynchval Systems Worldwide Inc., a leader in defined benefit pension plan valuation and administration software, located in Chantilly, VA, have announced today that they have combined their respective operations with Arrowpoint Technologies Inc., a New Jersey based software and IT services company. The business combination will provide an improved product portfolio and enhanced-service delivery model through offshore capabilities in addition to new product offerings. Under the new business combination, customers will gain cost-effective access to leading developers, industry experts and consultants in the pension, financial and insurance industries.
According to Dr. Richard Feller, President and CEO of Lynchval Systems Worldwide Inc., "This strategic plan will enable Lynchval to enhance significantly its product development cycle and offer a greater range of value-added services to its current and potential customers."
Mr. John Frank, Partner of Keytech said, "We're pleased to be part of this business combination, enabling Keytech to expand its service portfolio, providing a more complete and strategic service offering to our key customers, management and consultants."
Arrowpoint Technologies has significantly enhanced its service delivery infrastructure to offer a specialized full-cycle insurance, pension and financial practice vertical for its esteemed Fortune 100 customers. Regarding the program, Mr. Santanu Nandy, President and CEO of Arrowpoint Technologies commented, "We expect that our combined rich histories, unique performance models and impressive offerings will accelerate our global leadership as the preferred-service provider for the pension and financial services industry." Mr. CR Chandrasekar emphasized the newly expanded solution portfolio, while Mr.
Nirmal Kedia, Chairman of Arrowpoint Technologies, was confident that the combined entity will enhance the customers’ ROI as well as shareholder value.
The business combination is effective immediately.
About Keytech LLC: Keytech is a leading IT consulting firm operating in Hartford, CT. Among their customers are global Fortune 100 companies in the insurance, banking and pension industries.
About Lynchval Systems Worldwide Inc.: Initially formed in 1977, Lynchval is based out of the Washington DC area. They are a leader in defined benefit plan administration and valuation. Leading providers of retirement services and Third Party Administrators depend on their software solutions and support services.
About Arrowpoint Technologies Inc.: ATI is a CMMi certified leading software and IT services provider for the pension financial services industry. Their robust services and delivery deployment models, coupled with innovative solutions, enable customers to reduce their software development and services costs significantly across all functional areas. Their state-of-the- art development center in Chennai, India has over 150 functional and technical professionals.
For more information, visit www.arrowpointtechnologies.com.