Tech Mahindra secures AED 30 million in contracts across MENA in Q2,FY’09-10
Company strengthens resources to leverage government, banking, telecom and real estate sectors in the MENA region
HYDERABAD, October 21, 2009, Tech Mahindra, the new brand identity of Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider, announced that it has secured sizeable contracts in the MENA region totalling to AED 30 million in the second quarter of FY ’09-’10. This follows the recent launch of its new corporate identity, which is a reflection of the company’s strong commitment to the regional market. The company is also strengthening its resources to leverage the growing demand within the government, banking, telecom and real estate sectors in the MENA region.
Tech Mahindra closed substantial deals with organisations in eight regional countries, in line with aims to grow the existing roster of regional clients, which currently comprise a total of 200 companies. This includes the UAE, which accounts for 38 per cent of Tech Mahindra’s Middle East revenues; Kuwait, which accounts for 18 per cent; and Qatar and Bahrain, which account for 13 per cent apiece. Furthermore, the company also signed important clients from Morocco., Oman, KSA and Jordan. The new agreements with five new regional customers and additional orders from three existing customers revolve around delivering sustainable SAP, Oracle and Business Intelligence solutions. The agreements follow the extensive developments Tech Mahindra has seen in the last two months, which resulted in the steady build-up of customer confidence and renewed commitment of employees towards taking on new challenges. “With the regained confidence of regional customers towards our new brand identity, we have high expectations that more leading companies will be added to our growing client roster in the future,” said Manojeet Chowdhury, Head of Middle East and North Africa, Tech Mahindra. “The Middle East continues to be a key component of Tech Mahindra’s growth, and as part of our growth plans for the region, we are looking into strengthening our operations in the region given the significant contribution of this market to our revenues. We intend to do this by bringing several of our other global service offerings, which will help the customers in the region to focus and improve on areas which are important in the present economic conditions.”
Given its recent organisational restructuring that involved the integration of the sales and delivery functions to enhance customer satisfaction, in addition to a stronger sales force topped by the increasing growth potential in the market, Tech Mahindra is looking at doubling its business in the MENA region in the next 18 to 24 months. The company has also invested in developing customer-centric industry solutions for all major industries, which are designed to improve the Total Cost of Ownership. Furthermore, the company has aligned with its partners Oracle, SAP, Microsoft, Software AG and developed go-to-market strategies and joint development initiatives for some of the identified solutions.
“As the global downturn pushes companies to downsize their internal IT teams to rationalise costs, we have become more committed to delivering greater value to customers within the regional market, which we consider the cornerstone of our growth strategy. As a stronger organisation with the backing of a business house of impeccable repute, we are equipped to address the needs of the region’s most dynamic verticals, including telecom, banking, transportation, retail, oil and gas, manufacturing and the public sector. We are targeting growth of around 100 per cent in the first year, and we are confident of the prospects that lie ahead for us in the region,” concluded Chowdhury.
With eight regional offices across UAE, Kuwait, Qatar, Oman, Bahrain, Saudi Arabia, Yemen, Jordan and a Global Solution Centre in Egypt, Tech Mahindra has completed over 160 full lifecycle implementations in the region and has grown to a team of over 750 associates. In the last two months, Tech Mahindra has seen extensive developments, including the launch of its ‘ERP Shared Support Services’, a new service delivery model offering its ERP customers support services for Oracle and SAP in the region through its Global Solution Center (GSC) in Egypt. The unveiling of the new service delivery model leverages the company’s Egypt GSC as a resource hub for the region and is aimed at delivering value to its customers through unmatched quality of service.
About Tech Mahindra
Tech Mahindra (NYSE: SAY) is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance. The company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Tech Mahindra is part of the $6.3 billion Mahindra Group, a global industrial conglomerate and one of the top 10 industrial firms based in India. The Group’s interests span financial services, automotive products, trade, retail and logistics, information technology and infrastructure development.
Tech Mahindra development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Tech Mahindra undertakes no duty to update any forward-looking statements.
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Tel: +971 4 3988134
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Tech Mahindra Media Contact
Sridhar Maturi Sridhar_Maturi@mahindrasatyam.net +91-984-901-7000
Meigha Humbre Meigha_Humbre@mahindrasatyam.net +91-970-360-8822
Tech Mahindra represents the connected world, offering innovative and customer-centric information technology services and solutions, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.2 billion company with 107,200+ professionals across 90 countries, helping over 818 global customers including Fortune 500 companies. Our innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value to our stakeholders. Tech Mahindra is also amongst the Fab 50 companies in Asia as per the Forbes 2016 List.
We are part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles,after-market, information technology and vacation ownership.
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