Info-tech

Hexaware Tech bags ‘largest deal' from US client

Our Bureau | | Updated on: Nov 13, 2017

BL19_07_HEXAWARETECH | Photo Credit: SHASHI ASHIWAL

Mid-size IT solutions company Hexaware Technologies has bagged what it terms to ‘be the largest deal till date' for the company from an existing US-based client.

Hexaware has the potential to earn around $177 million (Rs 800 crore) over the next five years as the client has embarked on a vendor consolidation drive. However, Hexaware did not disclose the client's name or its sector citing a non-disclosure pact.

Hexaware will continue offering services to the client in the areas of enterprise solutions or ERP, business analytics, testing, business process outsourcing and application management, according to a press statement.

“Two other vendors were part of this account but now the client has consolidated vendors. We have got the dominant share of the business,” said Mr Rajiv Pant, President, North America of Hexaware, said on the sidelines of a news conference here on Monday.

The Mumbai-based company expects to ramp up the delivery team, to a peak size of over 600, over the next four-six quarters, he said.

According to the Chief Executive Officer, Mr P.R. Chandrasekar, this win is the third largest for Hexaware in the last three months.

However, the company did not give out any estimates on how the new deal win will help its full year earnings as it is currently in a silent period before its second quarter results are announced later this month.

The Hexaware scrip was up by 5.06 per cent to close at Rs 75.75 on the Bombay Stock Exchange on Monday.

Published on July 18, 2011
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