Hexaware signs 3-year contract with US client

The estimated revenue from the deal is about $30 mn

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IT and BPO services provider Hexaware Technologies on Thursday said the company has signed contract with one of its US-based existing clients. The new contract is for a period of three years  and the estimated revenue from the deal is about $30 million. However the company did not disclose the details of the client.

As a part of this engagement, Hexaware will provide services that cater to multiple business users across different technology platforms. The service lines include software development and application services management (ASM) through Microsoft, Java and Legacy Applications, enterprise solutions through PeopleSoft and SAP, business intelligence and analytics, quality assurance and testing services , remote infrastructure management services and business process outsourcing, the company said in a filing to the BSE.

Rajiv Pant, President, North America Operations, Hexaware technologies Limited said: “For our strategic clients, we aspire to be the Primary Go-To IT service partner and create value consistently through execution excellence led by superior human capital, rich intellectual property assets and domain intensive customized solutions we offer. With customer relationships such as with this client, we are well positioned to deliver healthy revenue growth on a sustainable basis.”  

Hexaware has been associated with the client for seven years and through this contract the company will have an estimated $5 million incremental business over the course of the deal, the filing said.

The revenue from this contract will begin to accrue with immediate effect as it also secures extension for the revenue stream from existing service lines for a three year period, the company said. In dollar terms the company reported an annual revenue growth of 18.3%, top 10 clients contributed 51% of the company's revenue in 2012.

In the morning trade on the BSE, the shares of the company were trading at Rs 90 up 0.17%.