Mumbai, March 10: A five-year association between Mastek Ltd and Deloitte Consulting Ltd has come to an end. Deloitte has acquired Mastek’s interest in a joint venture, Mastek DC Offshore Development Company Pvt Ltd, for an undisclosed sum.

The joint venture was created to deliver technology integration and related solutions for the US clients of Deloitte Consulting. Deloitte now wants to pursue its own plans in offshore capabilities. Around 500 professionals in Mumbai will continue in the existing entity. Both the partners had equal ownership in the joint venture.

In 2001 an agreement was inked between the two to offer India-based software services in areas such as application development, systems implementation and integration and information technology outsourcing services.

The joint venture was a strategic move by Deloitte Consulting to offer more economical custom software development to its clients. While Mastek provided delivery, operations and infrastructure support, Deloitte Consulting contributed in project management expertise, functional knowledge and worldwide client relationships.

The joint venture’s services were delivered as part of Deloitte Consulting’s services to its global clients in the finance, telecommunications, manufacturing, consumer business, energy and health care sectors.

Deloitte Consulting chairman and chief executive officer Doug Lattner said, “Our alliance with Mastek helped Deloitte Consulting build its business centre in Mumbai and our collaboration has been very fruitful.”