Under the terms of the agreement, which will generate revenues for both the companies over 5 years, Mastek will become Focus Solutions' systems integrator for direct engagements with clients, providing Focus Solutions with scalable resource capabilities around the world. Mastek will also have the rights to distribute Focus Solutions' focus:360° product globally outside of the UK.

In addition, Mastek will invest in creating an IT centre of excellence to support the implementation and configuration of focus:360° in the territories where the two companies are jointly active. Mastek and Focus Solutions may also launch a series of combined value-add propositions for the UK market to help insurers prepare for the post-RDR[1] world.

Mike Brinsford, Senior Vice President, Global Insurance Business, Mastek said: "Global Life and Pension and Wealth Management organisations are increasingly turning to multiple channels to distribute their products and services, including direct to consumers through the Internet. focus:360° dovetails perfectly with our own Elixir platform to deliver powerful, integrated front and back-office solutions to our clients and prospects. Together, Mastek and Focus will significantly reduce distribution and operating costs and increase the speed to market of new products and services for our customers. We are also looking forward to helping Focus scale its business through our global IT services capabilities and complementary software assets."

Richard Stevenson, Chief Executive, Focus Solutions said: "We are delighted that Mastek has chosen focus:360° as their multi-channel distribution platform front-ending their modular Elixir policy administration platform. We see this as a great opportunity for focus:360° to be utilised outside of our traditional UK and Irish markets through Mastek's strong presence across the US, Europe and Asia Pacific. It has always been a key strategy of the Group to extend our intur international reach and we are looking forward to working with Mastek to provide a unique proposition for global life & pension providers and wealth management firms."