For Information Technology outsourcing growth contrary to the slowdown projected in just a span of a few days, three big outsourcing companies won Information Technology outsourcing contracts all from different regions in the world. The Indian company HCL Technologies signed a five year $79 million Information Technology infrastructure outsourcing agreement with Singapore Exchange. The contract is expected to establish the fastest trading system in the world for Singapore Exchange as a part of its Reach Initiative. The Reach Initiative has a part, the project is expected to establish the fastest trading system in the word. It is expected to provide customers with the fastest access to Asia. The revenue from the deal is expected to start coming in during the last quarter of the year= while steady state revenues will flow in by first quarter 2011.
The TCS won a multi year outsourcing contract with Nordic mobile communications provider. The second company to land an Information Technology deal this week is fellow India company Tata Consultancy Services Ltd. The contract will involve Information Technology application maintenance and development services for Telenor Norway, currently the 6th largest mobile phone operator in the world. The TCS had been ranked as the leading outsourcing provider in the Nordic Region by the global sourcing advisory firm, the financial terms of the deal were not disclosed but it will likely pose both beneficial financial and strategic opportunities for TCS.
With the another Telecom firm, the third and last company to sign an Information Technology outsourcing is none other than technology giant who signed a five year Integrated Management Services agreement with the another Telecom firm. The IBM will providing a technical support and a hardware mailing and infrastructure management of software applications for Quippo WTTIL. The financial terms of the deal were also not disclosed. The big blue has signed along with Bharti Airtel, Vodafone Essar, Idea Cellular and Bharat Sanchar Nigam Ltd or BSNL. In general, a lot more deals are expected to come through especially during the last two quarter of the year not just for Information Technology but also outsourcing. Information Technology outsourcing growth is projected to slowdown with the renegotiations not new contracts that are expected to comprise a big bulk of the contract signings for 2010 approximately $12 million in annual contract value and while the trajectory for Information Technology outsourcing may change with the only half the year gone.
REFERENCE:
http://www.blog.infinit-o.com/outsourcing-companies-big-week/
