Citibank renews $9 m contract with Hexaware

FRANKFURT: Hexaware Technologies Ltd has announced the renewal of its contract with Citibank in Germany. The contract, for a period of three years, starting September 2004 is close to $three million per annum. According to the BSE website, the maintenance project would focus on legacy and client-server, Internet applications, apart from strategic conversion projects like EBS for the bank.

"Citibank has pegged $100-million investment for back-end IT projects over a period of four years, and Hexaware as one of our existing IT services provider is likely to get projects “, Ronny Vyncke, director, IT, Citibank, Germany, had said.

As the global financial powerhouse Citibank spends billions of dollars on its IT department, many other Indian companies are also working with Citibank as IT services partners.

Earlier this month, Hexaware Technologies Ltd announced that its has won a large assignment with a leading bank in the United Kingdom for enabling compliance to Sarbanes Oxley Act for an initial value of $1.2 million.

Hexaware would offer extensive consulting and testing services on an ongoing basis for compliance and sustenance.

Hexaware has also bagged a contract from German company Lufthansa Systems for providing maintenance services over a period of three years.

Hexaware has become the largest offshore partner of Lufthansa Systems, the wholly-owned IT subsidiary of Germany's Lufthansa group.