The Hindu Business Line : Satyam bags outsourcing contracts worth $75 m

Satyam Computer Services Ltd has bagged four outsourcing contracts aggregating to $70-75 million in Singapore, the United Arab Emirates and Australia.

“While the size of the deal is not too significant for a company like Satyam, we are excited about our increasing presence in Singapore and West Asian markets. The deals are also in line with our strategy to reduce dependency on the US market by increasing business in Europe and other parts of the world, including West Asia ,” Mr Virender Aggarwal, Director and Senior Vice-President (Asia Pacific and Middle East), Satyam, told newspersons in a tele conference. The work on two contracts had already begun and the rest would come into force in August, he added.

On the renewal of the contracts after six years, Mr Aggarwal said they could be extended. “There is no anti-incumbency factor in IT industry and the clients generally tend to extend them to the same vendor,” he added.

The company was also in the process of negotiating a few deals in the Rest of the World (ROW) region consisting of all geographies other than Europe and Americas, he said, adding, “The size of these deals can go up to $2 to $8 million.”

“We made almost 17 per cent of our revenues from ROW region. The long-term target is to increase this to over 20 per cent. The idea is to bring down the revenue from the US to 50 per cent from current 64 per cent and to generate 50 per cent from Europe and ROW over the next three years,” Mr Aggarwal said.

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

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rice in beer makes a heady brew for Budweiser

Wheat prices drop as growers bring out stocks

‘Weak phase’ may bring rain to TN

Guidelines on stock options computation soon

Satyam bags outsourcing contracts worth $75 m

Bharti ready for 3G, says Sunil Mittal

Reliance Telecom Infra plans listing this year

ULIPs post compounded annualised returns of 40-45%

Reliance confirms Cauvery find

Tata Tea consolidated Q1 net plummets

Tale of 2 software companies

How retail banking has gone into overdrive

Beware of proxy servers!

Century Text shines on land buzz

Focus on raising low-cost funds, Ministry tells PSBs