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L&T Info close to clinching $90 M Motorola deal
By siliconindia
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Friday, 22 August 2003, 19:30 IST
MUMBAI: L&T infotech, the wholly-owned subsidiary of engineering major Larsen & Toubro, is close to clinching an outsourcing contract worth $75- $90 m from US telecom equipment maker Motorola, sources familiar with the matter told ET, according to a business daily.
The deal in one stroke will propel the Rs 350 crore company which has been among the middle rung of Indian IT companies, into a higher league.
Sources however said that negotiations were on in full swing with Motorola to seal the mega order, which will be among the larger deals an Indian infotech company has bagged in recent times.
They are in an advanced stage of discussion and expect a deal to be finalised in the next 2-3 days, sources told the daily as saying. L&T Infotech, it is learnt, will have to execute the order over a period of 3-5 years.
Among recent large contracts for Indian IT companies, TCS deal with GE is in the region of $100 million, while a deal between HCL Technologies and British Telecom is in the region of $160 million. i-flexs contract with Citibank is in the region of $250 million. Motorola has two development centers in the country, in Delhi and Banglaore, where the company does high end research and development work. (Courtesy: ET)