PneumaSoft president Robert Horton said that the joint venture would help set up three new companies in North America, which will offer consultancy and software services. PneumaSoft is in the field of software services for more than 10 years in Canada and has established offices in various places including the US, he added.

According to him, FrontlineSoft will develop the new software products while his company will undertake the marketing requirements. In addition, PneumaSoft will promote services of FrontlineSoft in North America and Europe to expand the clients base.

FrontlineSoft managing director Mir Nasir Ali Khan said that the companies would float a new company -- International Stock Information Corporation -- to provide information related to stock markets with a difference. The company is planning to offer services in Spanish, which is the second most popular language in North America after English.

FrontlineSoft specialises in offshore software development with focus on embedded software and geographical information system.