Ebix, Inc. (NASDAQ: EBIX) and Data Glove Technologies both entered into a strategic contract. The firms are planning to set up two joint ventures in India and the US to target the areas in the BFSI industry in both geographies. JV which the firms set up in India will offer services in Europe, Africa, and ASEAN regions while the JV in the US will offer services in the US and Canadian markets.

Both the firms will sign an agreement to establish strategic ventures, outsource certain back-office functions to offer cloud and infrastructure maintenance services to the Healthcare marketplace & Insurance, Banking. This is an excellent step in the field of cloud computing and infrastructure support.