Mid-cap IT firms with niche focus bag big orders
Wednesday, 20th July 2011
The niche and differentiated focus that some of the mid-cap information technology (IT) services companies have embarked on, seems to be paying off.
Some of the recent wins by mid-cap IT firms elucidate the point. Hexaware Technologies signed a $177 million (Rs 796.5 crore) contract for five years from an existing US-based client. This is one of the largest deal for the company so far. In the last 12 months the company signed five deals upwards of $10-15 million ( Rs 45 to 67 crore) range.
Delhi-based NIIT Technologies signed two deals, the size of which has been more than what it traditionally signs up for. The company has entered into a joint venture with US-based Morris Communications for five years, which will ensure revenues of $85 million (Rs 382.5 crore). It has also signed an estimated $40 million (Rs 180 crore) deal with Eurostar International.
Publication : Business Standard