- KMD strengthens its partnership with Tech Mahindra to augment its SAP, Testing and Application Development Capabilities
Hyderabad, India, 11 March, 2010 – Mahindra Satyam, the brand identity of Satyam Computer Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider has signed a new four year offshore contract with KMD, one of Denmark's leading IT companies. KMD, which specialises in the public sector, signed a renewed contract with Tech Mahindra for the next four years worth approximately $48 million ending in December 2013. The new contract is an extension of a previous contract that was due to expire this year which involved the supply of application development, testing and application support services particularly in the area of SAP which is a growing business for the Danish IT company.
The new contract involves stronger partnership and multi-fold increase in business commitment with offshore work conducted in a development centre in Bangalore, India. The scope of application development work covered will primarily include SAP, as well as other technologies such as Mainframe applications, .Net, Java, BizTalk, WebLogic, PL/1, Sharepoint and MQ Series.
According to Lars Monrad-Gylling, CEO of KMD, "We have chosen SAP as a strategic technological platform for our development work and consider it a common cornerstone to enable coherence between systems, global market standards and to offer our customers greater openness and freedom of choice. Tech Mahindra's outstanding competencies in this area were a major factor in our decision to extend the contract."
He added, "The offshoring project with Tech Mahindra allows KMD to achieve even greater growth in the SAP development area and allows us to offer customers a reduced time to market. We consider Mahindra Satyam among the world leaders in their field and the two companies have already been engaged in a highly successful partnership.
C P Gurnani, CEO of Tech Mahindra commented, "We view this significant contract award as a great endorsement of the quality of work we have already delivered and a real testament to the success of the partnership that has developed between the two companies. We look forward with anticipation to the next phase of this relationship."
About Tech Mahindra
Mahindra Satyam 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.
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.
Mahindra Satyam is part of the $11.1 billion Mahindra Group, a global industrial federation of companies and one of the top 10 business houses based in India. The Group's interests span automotive products, aviation, components, farm equipment, financial services, hospitality, information technology, logistics, real estate and retail.
Mahindra Satyam IMS is a leader in offering innovative and transformational infrastructure services to enterprises helping them build and manage their IT infrastructure more efficiently and effectively.
Mahindra Satyam 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.
For more information, see www.mahindrasatyam.com
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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.