Majesco Inaugurates New Development Facility
Facility in Navi Mumbai, India to house development centers for large Majesco clients
Morristown, NJ – March 10, 2016 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced the inauguration of a new development center in Navi Mumbai, India.
The new facility is strategically located in Raheja Mindspace, an Information Technology Special Economic Zone in Airoli, Navi Mumbai. With the addition of the new facility, Majesco’s India offices in Mumbai, Pune and Chennai will now house more than 1700 professionals supporting Majesco’s global insurance business across North America, UK and Asia Pacific.
Ketan Mehta, CEO and Co-founder of Majesco commented, “Majesco is committed to our customer’s success in the insurance business. Insurers are seeking leading, innovative insurance solutions to enable their strategies for growth and future success and Majesco’s continued investment in people, process, technology and infrastructure is crucial to meet these needs. The new development center is in response to our growing customer base and our continued investment to meet the growing needs of the industry to compete.”
The facility with a capacity of 200 seats will provide development and support services for Majesco’s large insurance clients in the UK and North America.
The inauguration ceremony was attended by Majesco’s Board of Directors and Executive Management. .
Majesco enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.
Our customers are insurers, MGA’s and other risk providers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide. Majesco delivers proven software solutions, consulting and services in the core insurance areas such as policy, billing, claims, distribution management, BI/ analytics, digital, application management, cloud and more. For more details on Majesco, please visit www.majesco.com.
Director — Global Marketing
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Majesco’s Annual Report on Form 10-K.
Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to: integration risks; changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters; technology development risks; intellectual property rights risks; competition risks; additional scrutiny and increased expenses as a result of being a public company; the financial condition, financing requirements, prospects and cash flow of Majesco; loss of strategic relationships; changes in laws or regulations affecting the insurance industry in particular; restrictions on immigration; the ability and cost of retaining and recruiting key personnel; the ability to attract new clients and retain them and the risk of loss of large customers; continued compliance with evolving laws; customer data and cybersecurity risk; and Majesco’s ability to raise capital to fund future growth.
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Tara Dilzer Alexander
Director, Marketing Communications and Creative Services