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Our Bureau

Mumbai , Dec 20

Tech Mahindra has signed a five-year deal to provide sourcing services to British Telecommunications (BT).

The contract is expected to create new revenues in excess of $1 billion over this period, it said. This is the single largest deal ever won by Tech Mahindra, said a company spokesperson.

The deal is bound to increase the company's revenues from the BT Group, which currently accounts for 58 per cent of its total revenues.

BT held 32.55 per cent stake in Tech Mahindra as on September 30, 2006. Mahindra & Mahindra held 46.41 per cent.

Tech Mahindra will support BT's planned growth of managed services to business customers around the globe and continue to provide ongoing services related to BT's internal systems, processes and re-usable platforms, according to a statement.

Tech Mahindra and the BT Group have worked together for 20 years on a range of projects.

Both companies will work together on creating and operating a global delivery organisation.

The company serves telecom service providers, equipment manufacturers, software vendors and systems integrators.

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