Lyric labs signs MOU with Al Hathboor group in DUBAI
Released on: April 9, 2008, 10:32 pm
Press Release Author: Stanley Grace
Industry: Small Business
Press Release Summary: Coimbatore, Feb 25: Coimbatore based Lyric Labs India, engaged in content localization and multilingual publishing needs of various industries, and has entered into a MoU with Al Hathboor of Dubai to promote content localization services in the Middle East and North African (MENA) markets.
Press Release Body: Mr.VR Sasidar, Chief Executive of Lyric Labs India, Coimbatore and Mr. Abdulla Saif Al Hathboor, Chairman & MD of Al Hathboor Group signed the Memorandum of Understanding during the annual day function in DUBAI.
By signing this MoU, Lyric Labs has given rights to Al Hathboor to use Lyric Labs' brand name in the Middle East market for promoting content localisation services. Lyric Labs will extend its support to Al Hathboor Informatics, a subsidiary of Al Hathboor group, in promoting the abovementioned services in the MENA market.
Commenting on the occasion, VR Sasidar said, "We have developed certain proprietary translation service business model for support of clients looking for native, accurate and low cost translation services. We desire to promote this low cost translation services around the globe through strategic business partners with sound local presence. The present tie up will help us to achieve our goal of promoting the service in other parts of the world".
The MoU will be in force for a period of two years from the above said date (7th Feb.2008) and is automatically renewable for the next two years without any further procedures. The tie-up will increase Lyric Labs financial performance by alteast 3 to 4 times in the coming year.
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