Tech Mahindra succeeds in getting Swan Telecom $500 Million Contract
IT outsourcing contract from new telecom entrant Swan Telecom of around $500 million has been won by Tech Mahindra. Bidding from IBM, Wipro and Tech Mahindra was witnessed by Swan Telecom.
A Letter of Intent has already been issued to Tech Mahindra. The contract is for customer billing services and forms 5-60 % of the total IT outsourcing contract.
Emirates Telecommunications or Etisalat had acquired 45% stake in Swan for $900 million last year. Tech Mahindra alongwith Ericsson won Etisalat’s Egypt contract in February last year.
Wipro, the most anticipated winner took a back seat because Etisalat had shown interest in Tech Mahindra. This is one of the biggest wins by the company in the telecom space, apart from a multi-million dollar deal won by CanvasM, a joint venture between Tech Mahindra and
Motorola, from Aytaf Telecom in Bahrain.
However, a Senior Executive at Tech Mahindra said, “We do not comment on market speculation.”
