Vodafone India has renewed its technology outsourcing contract with IBM for five years. Rivals such as Tech Mahindra, Wipro, Tata Consultancy Services and Infosys were also in the fray for a deal that analysts say is worth $750-850 mn (Rs 5,025-5,695 crore).
The 2007 deal was worth $600 million and for five years, but was later extended for three years. Similar to that, the new deal too has options for extensions and additions of contracts for IBM’s Softlayer and Bluemix platforms among others, according to Greyhound Research Chief Analyst & CEO Sanchit Vir Gogia. The additional contracts could increase the contract value to $1 billion by 2023, he added.
Source: Economic Times