Nucleus Software to exercise ''Put Option'' on General Motors Acceptance Corporation''s Indian operations
10 Oct 2007
The option will be exercised in terms of the shareholder agreement with General Motors Acceptance Corporation (GMAC USA) for the shares, amounting to 25.1 per cent of the Indian company''s shareholding.
This coincides with GMAC Financial Services stepping up their equity investment in GMAC India.
In September 2004, Nucleus Software, one of GMAC''s key international IT partners had acquired 25.1 per cent of GMAC''s Indian operation.
Nucleus Software has also announced the commencement of the Benelux implementation of FinnOne retail suite for GMAC International Operations after its successful implementation in Italy.
"Our
association with GMAC continues to be a truly enriching experience," said
Vishnu R Dusad CEO and managing director, Nucleus Software. "As partners
we have gained deep
insights and understanding of processes within the markets in which our clients
operate. With successful implementation of FinnOne suite at Italy, we are now
geared up for the next phase at Benelux."