Released on = May 21, 2007, 11:02 pm

Press Release Author = Uma Mahesh

Industry = Software

Press Release Summary = ISGN, a rapidly growing provider of technology services to
the U.S. mortgage industry, has announced it has acquired Dynatek, a U.S.-based
provider of mortgage automation software for retail and wholesale lenders.

Press Release Body = © 2007 ISGN Confidential | All rights reserved
For Immediate Release
ISGN strengthens its mortgage industry leadership position; acquires U.S. mortgage
software firm Dynatek
Addition of mid-market leader Dynatek to ISGN\'s growing list of mortgage solutions
companies expands mid-market penetration and increases its customer base to 400
lenders
Chennai, India May 21st, 2007 - ISGN, a rapidly growing provider of technology
services to the U.S. mortgage industry, has announced it has acquired Dynatek, a
U.S.-based provider of mortgage automation software for retail and wholesale
lenders. With this acquisition, ISGN now serves more than 400 lender clients,
achieving considerable penetration into the industry's mid- market, and has added
another significant asset in-line with its overall strategy of becoming the
industry's technology and service leader.
Dynatek is an established pioneer in providing software to mid-market mortgage
lenders in the United States. Dynatek's flagship product, MORvision, is a flexible
lending solution that automates processes such as point-of-sale and web origination
through processing, underwriting, closing, secondary tracking and delivery. ISGN's
addition of Dynatek follows the company's late-March acquisition of the mortgage
software division of Fair Isaac Corporation, a leading U.S.-based provider of
predictive technology to the financial services industry. These acquisitions drive
ISGN's competitive strategy of bringing process and technology improvements, as well
as cost efficiencies to the mortgage industry through platform-based knowledge
process outsourcing (KPO).
Unlike traditional business-process outsourcing, which is employed along a
horizontal business process, such as accounting, "knowledge-process" outsourcing
requires deep industry expertise and sourcing partners that can execute and improve
upon mission critical tasks, such as loan origination and processing. The total,
global KPO market is predicted to grow to $15.5 billion in 2010 from $1.2 billion in
2003, a rate of 44% annually, according to the Indian industry trade association
NASSCOM. In a platform-based KPO model, ISGN would provide both software and
services to lenders who originate or refinance the $2.6 trillion worth of
residential mortgage loans in the U.S. each year.
"ISGN is pleased to announce the acquisition of Dynatek, a pioneer in the mortgage
software space," said Krishna Srinivasan, Chief Executive Officer and Vice-Chairman
of ISGN, "With this acquisition and our combined customer base of more than 400
lenders across all market segments, we have a tremendous responsibility to innovate
and enhance process excellence in order to service an industry that is going through
a business model transition at a rapid pace never before seen. We believe that our
combined strengths, size and portfolio of offerings give us the agility and
capability to deliver value to customers and transform the lending experience. We
are very enthusiastic about the potential of this synergy."
Upon closing of the transaction, Livonia, Michigan-based Dynatek will become a
wholly owned subsidiary of ISGN. Founded in 1986, Dynatek first offered a
Windows-based loan origination product in 1995 and a web-based solution in 1999.
"Dynatek is pleased to join forces with ISGN, a company that has both the leadership
and business model to transform the U.S. mortgage industry," said Jack Luhtanen,
Chief Executive Officer of Dynatek, "Together we can help build upon the success
we've experienced in more than two decades of bringing technology solutions that
simplify and automate the lending process. Lenders want to invest in a partner and a
product that will provide a long-term solution to their business needs, and this is
core to the philosophy of both Dynatek and ISGN."
About ISGN ISGN Technologies, Ltd., is a leading global solutions company in
aggressive pursuit of transforming the US mortgage industry with platform-based
knowledge process outsourcing (KPO) and consulting services. ISGN has over 400
clients including the top-20 and a majority of the top-50 U.S. mortgage lenders.
Jointly headquartered in Chennai and Philadelphia, Pennsylvania, ISGN has offices
worldwide, including locations in Delhi, London, Singapore, and across the United
States. With subsidiaries such as leading U.S.-based mortgage technology firms
MortgageHub and Dynatek, ISGN is backed by the K.K. Birla Group, one of India's
leading conglomerates. For more information, please visit www.isgn.com.
About Dynatek Founded in 1986 and headquartered in Livonia, Mich., Dynatek has been
revolutionizing mortgage automation for retail and wholesale lenders for more than 2
decades. Dynatek's MORvision is a flexible solution that automates everything from
point-of-sale and web origination through processing, underwriting, closing,
secondary tracking and delivery. Dynatek is attributed with a long list of industry
innovations including their award-winning Plug-In Partner Network, which seamlessly
connects MORvision users to industry partners with just one click; and their unique
Control Center, which offers capabilities for eMortgage, business process
management, and multi-client support. With Dynatek's complete mortgage software
solution and multi-faceted approach to customer service, the company has earned
numerous industry commendations and
the respect of hundreds of full-service financial institutions across the nation.
For more information on Dynatek or to schedule a demonstration, call 800.462.5545 or
log on to www.dynatek.com
Media Relations
India:
Ranjani Roy, Gutenberg Communications
Mobile (91) 98863 77941
Email ranjani@gutenbergpr.com
Uma Mahesh
ISGN Technologies Ltd
Uma.Mahesh@isgn.com
US:
Mike Sherrill, Gutenberg Communications
Tele (212) 239-8741
Email msherrill@gutenbergpr.com

Web Site = http://www.isgn.com

Contact Details = 114, Sir Theagaraya Road, TNagar Chennai Tamil Nadu India 600 017
Ph - +91 44 43939393
info@isgn.com