Thai Summit Group has signed an agreement with the Siam Cement Group (or SCG) to purchase a 10% stake in IT One from the company, and will outsource all of its information technology service requirements to IT One. As a result of this 50 MB transaction, SCG has reduced its stake in IT One from 49% to 39%. Thai Summit is a Thai conglomerate of over 30 subsidiaries with more than 13,000 employees in Thailand, Malaysia, and India, specializing in the parts manufacturing for the automotive, motorcycle, electrical appliance and agricultural engine industries. Furthermore, the group has diversified into the hotel and golf businesses. The decision to invest into IT One is seen as a move in the right direction for Thai Summit, and corresponds with the global outsourcing trend, while providing access to a world class IT support team that could provide for further efficiency gains in Thai Summit?s operations. Founded in 2001, IT One is a joint venture between SCG and Accenture (formerly Anderson Consulting), and is a leading provider of management and technology consulting services and solutions. Currently, the company has 240 employees.