Hexaware bags multi-million dollar deal

MUMBAI, INDIA: IT and BPO services provider Hexaware Technologies today announced that it has signed a contract with its US-based financial services client that would help it generate $10-15 million in annual revenue.

Under this deal, the company will be offering IT services to support the Client’s banking and investment management business. Hexaware has a long standing relationship with this large and well established Financial Services firm head-quartered in the United States, said a press release.

In addition to its traditional offerings in Application Development and Support, Hexaware will also offer Remote Infrastructure Management Services (Remote IMS) to this client.

As part of its core strategy, Hexaware has deployed dedicated client partners and an engagement director at its key accounts.

Through the deal, the company expects to generate revenues worth $10-$15 million annually from 2011 onwards from this BFSI Client which was just a one-million dollar Client for Hexaware in 2009, the release added.

“While we have already demonstrated our leadership position in the Asset Management micro-vertical, we have now proven our strong capabilities in our horizontal service lines to this customer, said R. Chandrasekar, CEO and Vice Chairman, Hexaware Technologies Limited.

He added that they are further providing value to the customer by offering all these services utilizing their major Global Delivery Centers in the US, Mexico and two centers in Chennai and Mumbai.

Reacting to the news, Hexaware shares jumped by 3.56 per cent to a 52-week high of Rs 72.70 on Bombay Stock Exchange this morning.