Hexaware Technologies Limited has announced today that the Company
has signed a contract estimated at USD 250 million, with an
existing client headquartered in United Kingdom for an additional 5
years starting January 2012. The value of the contract, projected
at a quarter of a billion, is the single largest agreement signed
by Hexaware till date.
Hexaware has been associated with this leading multi-billion
enterprise for over seven years, and this contract further
increases its share of wallet with the client. Through this
contract, the Company will have an estimated USD 60 million worth
incremental business. This engagement has been structured to enable
Hexaware to offer its services to newer geographies spanning across
Americas, Europe and Asia Pacific. The additional revenues from
this engagement will begin to accrue from the first quarter of
2012. This contract is expected to improve offshore ratio over the
term of the contract.
“Over the last six quarters, Hexaware has won 6 large deals
each in excess of USD 25 million out of which 3 are over USD 100
million. Cumulatively these 6 deals are worth over USD 600 million.
This proves our ability to win complex engagements in a highly
competitive environment. This further reflects our focus on
strategic account management and our ability to provide value to
our clients.” said, Atul Nishar, Chairman, Hexaware
Technologies.
As a part of this engagement, Hexaware will continue offering
services to this Strategic customer that cut across the following
horizontals – Enterprise Solutions (ERP), Business
Intelligence / Business Analytics (BI / BA), Quality Assurance and
Testing Services (QATS), Application Management Services (ADM) and
Remote Infrastructure Management Services (IMS). Under this
contract, Hexaware is expected to ramp the team up to a peak size
of 800 personnel operating under Dedicated Global Delivery Centers.
It is envisaged that Hexaware will offer Information Technology
(IT) services from its centers in Chennai, Mumbai, Pune and
Mexico.
“In the current economic condition, it is satisfying that
Hexaware has been able to sign a contract that provides enhanced
visibility to our revenue streams over the next five years. Such an
addition to the order book provides a stable foundation to drive
growth over the medium term. Further, such a large win translates
into profitable business for the company as we can manage many of
the operational metrics better. Finally it is a testimony to the
excellent relationships we strive to achieve with our existing
customers.” remarked, P R Chandrasekar, CEO & Vice
Chairman, Hexaware Technologies.
“This is our single largest contract till date. It is our
competencies; commendable execution track record and our eagerness
to ensure customer delight that have allowed us to offer superior
services to our clients. This win further enables us to strengthen
our global footprint with the client. Over the last 4 quarters,
Hexaware has seen significant growth in the Europe business and has
added 12 new clients in this region. We continue to see healthy
traction from existing clients. Deal wins like this endorse our
strategy of being a focused provider in niche service lines and the
selected markets” said Ramanan Seshadri, Sr. Vice President
& Head – Europe Operations, Hexaware Technologies.
Last month, Hexaware increased its annual guidance for the year CY
2011 for the third time this year to a minimum of USD 306 million
revenues; an annual revenue growth of at least 32 percent compared
with 2010.
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