There were some notable outsourcing contracts established, albeit they are not the mega deals of old but substantial they are still. It was data and advisory firm TPI, the global, outsourcing contracts are headed for India. The global outsourcing contract volume is set to increase this 2010, the economic times even projects that $1 billion worth of the outsourcing contracts are headed for the India. These contracts as Everest Group’s Gaurav Gupta stated are typically in the range of $50-100 million. The Indian Information Technology services vendors currently have some mega outsourcing contracts in the pipeline. With Indian company Wipro, one such contracts is Punjab and Sind bank’s contract. The deal that had previously been awarded to Satyam, the contract featured prominently in the news due to the failure of the previous contract with Satyam.
With Starwood Hotels and Resorts for the development, they estimate as one of if not the largest contract for the quarter. The deal was signed, the deal sits high on the list of substantial deals for the quarter as Starwood Hotel is one of the biggest hotel and leisure companies in the world. There are other equally notable deals that have gone through the quarter including the contract extensions including the CSC ‘s contract extension with the United Technologies Corporation which is projected to add over $1.5 billion in the value to the existing contract in a five year period that was announced on the 18th of March and Lockheed Martin’s contracts extension with NASA which has an estimated value of the approximately $23.0 million. The contracts are just beginning to pour in, the amount of the contracts being won has been steadily increasing with the economy’s recovery. By year’s end and perhaps they will see the mega deals return once again, it is expected that the pace and value of the contracts will increase further.
REFERENCE:
http://www.blog.infinit-o.com/first-quarter-2010-notable-contracts-won/
