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Our Bureau

Projects $40-m revenue per annum from new work

Hyderabad March 28 IT services provider Satyam Computer Services Ltd today announced it has bagged a five-year $200 million (about Rs 900 crore) maintenance-cum-business transformation deal from Applied Materials Inc.

For Applied Materials, a supplier of technology for semiconductor companies worldwide, Satyam has created a dedicated development centre, which will be part of its Electronic City campus at Bangalore.

In fact, Satyam is engaged with Applied Materials for over five years now, but the nature and scope of the engagement has become lot bigger and diversified.

As a part of this major deal, which would generate about $40 million (Rs 180 crore) per annum in revenues for Satyam, the mandate is to provide application development, maintenance and support (ADMS) plus business transformation through a managed services delivery model.

The Chairman of Satyam Computer, Mr B. Ramalinga Raju, in a statement said: "we expect the managed services approach to become commonplace as a model for numerous future engagements with other customers."

The Chief Information Officer of Applied Materials, Mr Ron Kifer, said "we expect this managed services model to provide us with a cost-effective solution for managing IT and business infrastructure and measurable service level and quality enhancements."

"With this deal, the nature and scope of the work has expanded from a project-to-project basis over the last five years to a new level that takes care of business transformation through managed services.

The focus would be on delivery of exceptional value to Applied Materials," Mr T.R. Anand, Director and Senior Vice-President at Satyam, said.

Satyam shares ended lower at Rs. 455.60, as against the previous close of Rs. 472.25, on the BSE on Wednesday.

More Stories on : New Business | Software | Satyam Computer Services Ltd

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