Satyam gets $75 mn multi-year deals

Satyam gets $75 mn multi-year deals
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First Published: Tue, Jul 17 2007. 04 34 PM IST
Updated: Tue, Jul 17 2007. 04 34 PM IST
Bangalore: India’s Satyam Computer Services Ltd. said on 17 July it signed four multi-year IT services and outsourcing deals worth $70 million to $75 million.
Two of these deals are from the Singapore government, the fourth-ranked Indian software services exporter said.
The other contracts are from a transport provider in Australia and from Emirates Bank International in the United Arab Emirates for enterprise financial management, it said.
Revenue from all the deals will start flowing in from the current quarter, said Virender Aggarwal, the company’s senior vice president for Asia Pacific, Middle East, India and Africa.
“We see the momentum going forward in many markets... the deal sizes are increasing and the customers are beginning to trust Indian companies with the kind of deals they used to trust with EDS and CSC,” he told reporters.
Aggarwal was referring to Electronic Data Systems and Computer Sciences Corp. that compete with Indian software services firms like Infosys Technologies and Satyam for a bigger share of the global outsourcing pie.
New York-listed Satyam said it receives nearly 17% of its revenue from the regions outside Europe and Americas.
At 2:15 pm, shares in Satyam, which specialises in business software and counts General Electric and Qantas Airways Ltd. among key clients, rose nearly 3% to Rs496 in a firm Mumbai market.
Satyam, which reports earnings on 13 July, is expected to show a 10% rise in net profit in the June quarter from a year ago as higher outsourcing offset the impact of a stronger rupee on export earnings, analysts said.
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First Published: Tue, Jul 17 2007. 04 34 PM IST
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