As per the Memorandum of Understanding signed between the two companies, Samay Technologies would develop an Enterprise Resource Planning (ERP) software for the company on site and customise the same as per the client specifications, Parle Software said in a filing to the Bombay Stock Exchange.
This would help the company to penetrate the global market, besides reducing the exchange fluctuation risks in a volatile foreign exchange conditions, the filing added.
The company would set up a corporate office in the United States to oversee the software operations to be carried out by Samay Technologies Inc. The office would be operational from June 1.
Shares of Parle Software closed at Rs 219, down 3.23 per cent on the BSE.
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