Tech Mahindra Signs Multi-Million Dollar Deals In Latin America

New Delhi: IT services firm Tech Mahindra today said its Brazilian subsidiary has won two multi-million dollar contracts to deliver enterprise solutions for oil & gas and banking verticals.

The deals have been signed by its subsidiary Complex IT with a bank and the Schahin Group.

"The first project is with Schahin Petroleo to deliver a new enterprise business solution for the operations of the oil & gas division of the Schahin Group," Tech Mahindra said in a BSE filing.

The project includes implementation of SAP ERP and addresses business pain points around complex supply chain logistics and strengthening of the integration process, it added.

The company, however, did not provide further details on the deals.

"Complex IT has also signed a transformational contract with a leading bank in Brazil to deliver enterprise business solutions for SAP demands on AMS, projects and on-going demands. This will help them overcome high complexity environment and helping internal SLA," it said.

Earlier this year, Mahindra Satyam, which has now merged with Tech Mahindra, had announced that it has acquired a controlling stake in Brazilian SAP consulting firm Complex IT. Latin America is a key market for the company in terms of retail, aerospace and defence domains, it said.

Tech Mahindra shares today closed at 1,251.20 apiece, up 0.35 per cent on the BSE.

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Source: PTI