Tutis Technologies Ltd has informed that the Subsidiary of the Company has executed an MOU on October 04, 2007 with O'Connor Davies Financial Services LLC (ODFS) of USA, a very large CPA Firm, having many big Hedge Funds as Clients, to have strategic partnership and form a new Joint Venture Company (JVC) in USA with 51% and 49% membership interest respectively for Tutis subsidiary and ODFS.
The new JVC shall provide services in USA in the areas of Fund Accounting, Fund Administration and Consulting. Tutis subsidiary and ODFS shall give the services in USA exclusive through JVC.
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