Three Indian IT firms get $600 million Wal-Mart deal
The trend – Buffalo to Bangalore – continues. The foreign wind continues blowing toward Indian IT. Everyday there are new IT outsourcing from Western countries to India. But, this one is BIG:
The Business Standard reported on Friday that American Wal-Mart (Walmart) has selected three IT vendors in India to outsource its IT needs. The company has selected three prominent IT vendors from India — Infosys Technologies, Cognizant Technology Solutions and UST Global — for multi-year contracts worth over $600 million (around Rs 2,750 crore).
In the start, each firm is expected to earn Rs 250 crore to Rs 300 crore annually. The figure will likely grow as Wal-Mart increases outsourcing of work from its main merchandising division. Infosys and Cognizant are expected to get a larger share of the contract.
According to this new mega contract, Infosys and Cognizant will be responsible for application development and support, while UST Global will owe the testing of these applications. Read the rest of this entry »
