Hexaware signs $250 million contract

Hexaware Technologies, a global provider of IT, BPO and consulting services,
announced its $250 million contract with an existing client in United Kingdom
for an additional 5 years.

The value of the contract, projected at a quarter of a billion, is the single
largest agreement signed by Hexaware till date.

Hexaware has been associated with this multi-billion enterprise for over seven
years, and this contract further increases its share of wallet with the client.

Through this contract, the company will have an estimated $60 million worth
incremental business.

This engagement has been structured to enable Hexaware to offer its services to
newer geographies spanning across Americas, Europe and Asia Pacific.

The additional revenues from this engagement will begin to accrue from the
first quarter of 2012. This contract is expected to improve offshore ratio over
the term of the contract.

“Over the last six quarters, Hexaware has won 6 large deals each in excess of $
25 million out of which 3 are over $ 100 million. Cumulatively these 6 deals
are worth over $ 600 million. This proves our ability to win complex
engagements in a highly competitive environment. This further reflects our
focus on strategic account management and our ability to provide value to our
clients,” said Atul Nishar, chairman, Hexaware Technologies.

Under this contract, Hexaware is expected to ramp the team up to a peak size of
800 personnel operating under Dedicated Global Delivery Centers. It is
envisaged that Hexaware will offer Information Technology (IT) services from
its centers in Chennai, Mumbai, Pune and Mexico.

In Q3 2011, the Company added 12 new clients across all its key focus areas.
The company has strength of 194 active clients at the end of Q3 2011.

“In the current economic condition, it is satisfying that Hexaware has been
able to sign a contract that provides enhanced visibility to our revenue
streams over the next five years. Such an addition to the order book provides a
stable foundation to drive growth over the medium term,” said PR Chandrasekar,
CEO and vice chairman, Hexaware Technologies.

By Telecomlead.com Team

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