• Agreement signed with an existing US client; incremental business potential worth $ 100 million while extending existing business worth another $ 77 million over five years.
• Solidifies Hexaware’s position in a multi-vendor scenario; strengthens the relationship and enhances the share of wallet.
Hexaware Technologies Limited, a leading global provider of IT, BPO and consulting services has announced today that the Company has secured a large contract worth potentially $ 177 million over a five-year term.
Hexaware has been associated with this leading United States-headquartered Multi-national Corporation for several years, and with this deal further increases its share of wallet with the client. Through this contract, the Company has a potential $ 100 million worth incremental business while extending existing business worth another $ 77 million over the course of the five-year agreement.
As a part of this engagement, Hexaware will continue offering services to this Strategic customer that cut across the following horizontals – Enterprise Solutions (ERP), Business Intelligence / Business Analytics (BI / BA), Quality Assurance and Testing Services (QATS) Business Process Outsourcing (BPO) and Application Management Services. While it is an existing Customer for Hexaware, this client also is a leading Business Process Outsourcing (BPO) client for Caliber Point Business Solutions, a 100% wholly owned subsidiary of Hexaware Technologies Limited.
“Under this contract, Hexaware is expected to ramp the team up to a peak size of 600+ personnel operating under Dedicated Global Delivery Centers. It is envisaged that Hexaware will offer Information Technology (IT) & BPO services from 15 locations spread globally,” remarked Rajiv Pant, President and Head – America Operations, Hexaware Technologies Limited.
The Company expects the ramp-up of the execution team to happen over the next four- to- six quarters. Given the size of the agreement and the innate complexities of the tasks assigned, Hexaware has designed a road map to enable a smooth transition of activities in a phased manner over the next two years.
“This is our third large deal signed in the past three months. A deal of this magnitude was won on the back of our dominant position in multiple technology platforms, an exemplary execution track record and a partnership approach to ensure maximum value accretion for the client,” said P R Chandrasekar, CEO & Vice Chairman, Hexaware Technologies Limited.
Hexaware’s core strategy has been built on attaining leadership positions in its chosen areas through focus and differentiation. While this strategy has enabled Hexaware to win several Fortune / Global 500 clients, the Company has followed this initiative by deploying dedicated client partners and engagement directors at all of its key accounts to address the unique requirements of clients, leveraging Hexaware’s array of service offerings. Five large deal announcements in the span of the last 12 months is a validation of Hexaware’s strategy and its execution, and illustrates the quality of its client roster and depth of those relationships.
Hexaware (hexaware.com) is a leading global provider of IT & BPO services and consulting. The Company focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Our business philosophy,“Your Success is Our Focus”, is demonstrated through the success we ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Business Intelligence & Analytics, Enterprise Applications, Quality Assurance and Testing, Remote Infrastructure Management Services and Legacy Modernization. Founded in 1990, Hexaware has a well-established global delivery model armed with proven proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification.
Safe Harbor Statement
Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.
Issued on behalf of Hexaware Technologies by:
Sushmita Sarkar, Adfactors PR Private Limited
T: +91 98206 61186 / E: sushmita.sarkar[.]adfactorspr.com.