Barclays Capital has inked a five year, $75 million deal with IT firm Ness Technologies to establish a development and engineering centre in Israel.
Backed by a range of incentives from the Israeli ministry of finance, the UK bank's centre will be built and managed by Ness Technologies' Software Product Labs division.
Sachi Gerlitz, president and CEO, Ness Technologies, says: "During the course of the engagement, we will contribute our knowledge and expertise in building and managing software development labs. We will employ our unique software development methodology, taking good advantage of Israel's pool of high quality engineering talent."