Deals are back; HCL Tech bags 3 large deals worth $100-mn
While many of the deals closed during the year came at lower prices than earlier, the good news is that analysts believe prices are stabilizing.
The first half of the current year has seen HCL Technologies bagging three large deals worth over $100 million. This is in tune with the fact that Indian information technology companies are back to winning ways of late.
While many of the deals closed during the year came at lower prices than earlier, the good news is that analysts believe prices are stabilizing. HCL Tech’s feat has come as an endorsement to the turnaround the IT majors are currently undergoing.
HCL Technologies is not alone in this space. Many a technology major in India have been pushing the wining graph upwards, going by recent figures made public by these companies. While Wipro Technologies has managed to bag a five-year data centre and application management contract from BJ Wholesale Club, TCS, Infosys and Wipro have been reported as having won a part of the $1.5-billion outsourcing contract from British oil and gas firm BP last month.
A Business Standard report in this regard said that Infocrossing, the company acquired by Wipro, managed to get a contract extension of four years for $34 million from Sunoco, a leading manufacturer and marketer of petroleum products. The third quarter Global TPI Index that tracks commercial contracts valued at $25 million or more has cemented the fact that there has been a positive resumption in flow of deals recently.
According to the third quarter Global TPI Index, as many as 139 transactions with a total contract value of $24.7 billion have been recorded. This in fact is the highest quarterly value since the fourth quarter of 2008. This also means that there has been an increase of 21 per cent over the second quarter of 2009 and 40 per cent over the third quarter of 2008.
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