Software services source Zensar Technologies on Monday made an ultimate contract to obtain United States-based PSI Holdings Inc's division Akibia for United States Dollar 66m in ready money in tender to boost its on-site existence.Massachusetts-based Akibia offers IT services to organizations globally to aid them, optimise direct and support their infrastructure and has greater than 900 clients.
"There were 3 bids in which we could not take part because they required at least 30% of job to be finished on shore, which was tough for us to," said Ganesh Natarajan CEO, Zensar.The Akibia contract will allow Zensar to bid and protect big deals with values ranging from United States Dollar 5 million to United States Dollar 15 million, while previously the organization could only provide to deals worth United States Dollar 2 m to United States Dollar 3 m, said Krishna Ramaswami, V.P., strategic businesses unit at Zensar.
Akibia's businesses are mainly based on-site, with only 1 project offshore, Natarajan recently said.The contract will be funded partially by way of inner accumulations and the remaining through the debt and is anticipated to secure this quarter, Natarajan said.The contract will aid 1 to1.5% to Zensar's gross profit upcoming fiscal onwards, said CFO S. Balasubramaniam.Akibia, which was established in the 1988, has income of greater than United States Dollar 100 million and counts organizations such as HP, Verizon, IBM and Goldman Sachs as its clients.
