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TCS, Infy, Wipro bag big chunk of BP’s 5-year IT deal

This article was posted on Aug 26, 2009 and is filed under Stock News

NEW DELHI: Country’s top three IT companies TCS, Infosys and Wipro today bagged a seizable chunk of five- year outsourcing deal from British oil
giant BP. ( Watch )

Spokepersons of all three companies did not disclose the size when asked whether the total deal size is worth $ 1.5 bn (approximately Rs 7,500 crore). They also did not reveal their independent size of the contract they have won.

The multi-crore rupee contract is a big boost for the domestic outsourcing majors, currently under pricing and margin pressure in the wake of gloabl downturn.

Global IT majors IBM and Accenture have also has snapped a part of the deal. The three companies announced separately that they have entered into an outsourcing deal with BP.

Infosys said it will operate BP’s business systems. Wipro said it will provide IT Application Development and Application Maintenance (ADAM) services for BP’s Fuels Value Chain and corporate business globally.

TCS said it has been selected for engagements in refining, manufacturing and corporate IT with opportunities across fuels value chain including upstream and trading.

As part of the deal, IBM will manage and run the oil giant’s enterprise applications and integrated service desk responsibilities, IBM said.

The big three closed up in the range of 2-4 per cent on BSE after the news of them bagging the deal broke out.

source: Economictimes

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