R Systems to be in JV with TIMC

R Systems International Ltd is planning to enter into a joint venture agreement with Total Information Management Corporation.

Software developer R Systems International Ltd said on Friday that it is planning to enter into a joint venture agreement with Total Information Management Corporation (TIMC).

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The JV would facilitate the company to participate in eligibility, bidding and undertaking of the project relating to acquisition and implementation of integrated loans, membership, acquired assets and accounts administration system, the company informed the Bombay Stock Exchange.

The management would submit the board of directors, the draft resolution along with necessary document for their approval, it added.

TIMC is a domestic corporation registered under the laws of the Republic of Philippines.

The shares of the company were trading at Rs 173.25, up 2.36 per cent at the BSE.