8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) May 3, 2010

Intelligroup, Inc.

	(Exact Name of Registrant as Specified in Charter)
New Jersey	0-20943	11-2880025
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

 

5 Independence Way, Suite 220
Princeton, New Jersey	08540
(Address of Principal Executive Offices)	(Zip Code)

 

(646) 810-7400

(Registrant’s telephone number, including area code)

 
 

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

 On May 3, 2010, Intelligroup, Inc. (“the Company”) issued a press release announcing that the government of Saudi Arabia had approved the registration of Intelligroup Saudi Arabia Co. Ltd., a joint venture between the Company and the Al Tamimi Group in Saudi Arabia. The Company and the Al Tamimi Group are in the process of finalizing the terms of their joint venture agreement. However, the Company currently expects that the final joint venture agreement will provide for, among other things, capital contributions of 250,000 Saudi riyals (approximately $66,600 US dollars) from each party for a fifty-fifty ownership split, the right on behalf of the Company to appoint the Chief Executive Officer or Managing Director of the joint venture and profit distribution in proportion to the equity ownership interest. The joint venture will serve as a platform for the Company to market and sell its enterprise resource planning (ERP) centric services, including implementation projects, upgrades of existing ERP applications, process integration, application and infrastructure outsourcing services and business process outsourcing services to customers in Saudi Arabia.

 This Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently. Forward-looking statements represent the Company’s management’s judgment regarding future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. All statements other than statements of historical fact included in this Current Report on Form 8-K are forward-looking statements. The Company cannot guarantee the accuracy of the forward-looking statements, and you should be aware that the Company’s actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including the statements under “Risk Factors” contained in the Company’s reports filed with the Securities and Exchange Commission.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release of Intelligroup, Inc. dated May 3, 2010

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

INTELLIGROUP, INC.
By:	/s/ Alok Bajpai
Name:	Alok Bajpai
Title:	Treasurer and CFO

Date:May 3, 2010

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EX-99.1

Exhibit 99.1

Intelligroup announces registration of Intelligroup Saudi Arabia Co. Ltd, a
JV between Intelligroup and Al Tamimi group.

Princeton, NJ – May 3, 2010 Intelligroup, Inc., (OTC BB: ITIG) a global ERP and extended ERP services company, today announced that they have received certificate of registration for a new joint venture company called Intelligroup Saudi Arabia Co. Ltd , a Joint Venture between Intelligroup and Al Tamimi Group, a large and very well respected business group in Saudi Arabia. This joint venture would serve customers in Saudi Arabia to provide ERP and end-to-end IT Outsourcing services including new implementations, upgrades, global rollouts, process integration, application and infrastructure outsourcing and Business Process Outsourcing to Saudi customers. The partners are in the process of finalizing the final terms of the joint venture agreement and also in building local teams and expertise for pre-sales, sales and delivery.

According to Vikram Gulati, CEO and President of Intelligroup, "Tamimi Group's extensive presence and network in Saudi Arabia and other Middle East countries gives Intelligroup a platform to enhance our market presence and deliver our services in this fast growing region. Intelligroup has already won customers and implemented ERP projects in the Middle East and this partnership will act us a catalyst to grow our business in this important region. We are very excited about this partnership".

"Al Tamimi is pleased to have Intelligroup as a new partner in this joint venture," said Tariq Al Tamimi, Chairman of Al Tamimi Group. "Intelligroup will provide global industry experience and technical delivery expertise in the enterprise application space that will benefit both customers and employees. Tamimi-Intelligroup is expected to provide the Middle-East market with leading technology and customer support in cooperation with Intelligroup’s Global Leadership in ERP market. We look forward to a fruitful future collaboration."

About Tamimi Group

TAMIMI GROUP today harnesses the very broad range of skills and talents of over 9000 people of some 28 different nationalities, distributed throughout several dozen companies engaged in highly diversified activities. The TAMIMI GROUP, which consists of some 30 companies or divisions, Is wholly owned Saudi Arabian entity, with its head office in Damam and regional offices in all major cities of the Kingdom of Saudi Arabia as well as in Bahrain, Qatar, Kuwait and UAE.

The highly diversified Group is one of the leading organizations in the kingdom with such varying activities as: Pipeline & Electro mechanical construction, Thrustboring construction, Transportation, Catering &life support, Services, Operations &Maintenance, Supermarkets, Real Estate, Commercial and Industrial trading, Chemical and Oilfield Chemicals manufacturing, Power generation manufacturing, Technical and logistical Support Services, Electrical Transmission Line Construction, Corrosion inhibition, Tape Manufacturing, Tire Retreading, Insulation, Fabrication, Hotel operations, Laundry operations, Integrated Unified instrumentation&Safety Control systems

Website: http://www.al-tamimi.com/about.html

About Intelligroup

Intelligroup is an ERP-focused enterprise applications systems integrator providing consulting, implementation, testing, application management, infrastructure management, and other IT services for global corporations. The Company possesses deep expertise and proprietary tools in industry-specific enterprise solutions and has been recognized by clients, partners including SAP and Oracle and IT industry analysts for consistently exceeding expectations. Intelligroup won the 2009 global annual Pinnacle Award from SAP, was a finalist in Oracle 2009 Titan Awards, and was recognized by NASSCOM as a Top 100 Innovator. Intelligroup’s global service delivery model combines onsite teams and offshore development capabilities to deliver solutions that accelerate results, reduce costs and generate meaningful ROI for clients.

For more information please visit our site www.intelligroup.com

 For more information, please contact:

MARKETING CONTACT:	INVESTOR CONTACTS:
Pat Gray	Norberto Aja, David Collins
Intelligroup Inc.	Jaffoni & Collins
Incorporated	(212) 835-8500
646-810-7405	itig@jcir.co