Indian IT services provider HCL Technologies and Swiss-based software development company Sage have entered into a strategic alliance to dev...

Indian IT services provider HCL Technologies and Swiss-based software development company Sage have entered into a strategic alliance to develop the Propsero private wealth management application. Under the arrangement, HCL and Sage will work together to develop, distribute and implement Sage's flagship product using the company's expertise and services, HCL said in a filing with the Bombay Stock Exchange. Prospero is an integrated wealth management platform that meets the transactional processing and reporting needs of wealth management organisations throughout the world, according to Sage. "The partnership between HCL and Sage brings together complementary skill sets, and will provide the financial services industry with a value proposition based on proven products and services with domain expertise. HCL has partnered Sage to broaden its offerings for private wealth management organisations to offer the benefits of an integrated product," said a spokesman for HCL. The alliance will initiate product engineering services, testing and software implementation and offer dedicated support at either end. The companies will also work together on the development of new business opportunities.