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IT solutions company Tech Mahindra has been selected by Volvo Car Group to provide IT infrastructure and application maintenance services for its operations in countries such as Sweden, China and Belgium.
The arrangement would cover 2,800 servers across the IT functions at the Swedish automaker’s regional offices, factories, global data centre, manufacturing, research and development, Tech Mahindra said in a press statement.
The Mahindra group company said that it is a multi-year, multi-million dollar contract but did not disclose the actual deal size. Yesterday, Infosys announced that it had won it has won a contract from Volvo Cars to provide software application development services for the auto major's global operations.
As on September end, the manufacturing vertical contributed 19 per cent to Tech Mahindra’s overall revenues. Volvo Cars will be supported by Tech Mahindra’s Infrastructure Management Services (IMS) practice team, which has a presence in 36 countries presently.
Indian IT companies, heavily reliant on their traditional markets of US and the UK, have intensified efforts to crack continental Europe in the past few years through acquisitions, local hiring and Greenfield operations. Europe accounts for roughly one-third of revenue for India's $108 billion IT services industry, with majority revenues coming from UK and English speaking markets such as The Netherlands and Belgium.
The Tech Mahindra scrip was up by 0.64 per cent to close at ₹1,795.5 on the Bombay Stock Exchange today.
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