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In a sign of an improving deal pipeline after Vishal Sikka took over as CEO, IT services major Infosys said on Thursday that it has signed a five-year contract with BP, one of its longstanding clients.
Infosys will provide IT services, in particular application support and development to BP, said a release from the company.
However, the company has not revealed financial details of the deal though sources indicate it is valued at $500 million (Rs 3,020 crore). The agreement, which is effective from September 1, 2014, will provide IT services across BP’s operations, including corporate functions, upstream and downstream segments, energy trading and marketing. The agreement’s geographical scope includes BP’s main facilities in Houston, Texas, and in the UK, as well as support in locations as diverse as Azerbaijan, Angola, Brazil and Singapore.
According to information technology market research firm IDC, Infosys is one of the top-rated IT services player in the oil and gas sector. “Professional services firms have made great strides in building their oil and gas–specific capabilities in the past two years. Infosys is one of those firms,” said Jill Feblowitz, vice president, IDC Energy Insights, Oil and Gas.
Meanwhile, another major IT company, Tech Mahindra has signed a deal with Bombardier Aerospace. As part of this engagement, Tech Mahindra will provide engineering solutions to Bombardier, a release said. Tech Mahindra has been a partner for Bombardier for many years. The company said it plans to expand its workforce in Canada to 1,200 in five years with focus on local hiring.