KMD, a Denmark-based IT company, has renewed its offshore contract with Mahindra Satyam (earlier Satyam Computer Services). The new contract for the next four years is worth $48 million (about Rs 220 crore) and will end in December 2013.
The contract is an extension of a previous one that is due to expire. It involved the supply of application development, testing and application support services, particularly in the area of SAP, which is a growing business for the Danish company. The scope of application development work under the new contract will primarily include SAP and other technologies like mainframe applications, .Net, Java, BizTalk, WebLogic, Pl/1, Sharepoint and MQ Series.
"About 200 associates will be engaged to offer offshore work from our development centre in Bangalore," a top Satyam official told Business Standard. Mahindra Satyam currently employs around 4,000 professional in Bangalore.
"We view this significant contract award as a great endorsement of the quality of work we have already delivered and a real testament to the success of the partnership that has developed between the two companies. We look forward with anticipation to the next phase of this relationship," Mahindra Satyam Chief Executive C P Gurnani stated in a press release today.
The Satyam stock rose 0.10 per cent to end the trade at Rs 98.20 on the BSE today, over the previous close of Rs 98.10.
