iGate Global inks $20 million IT outsourcing deal

By siliconindia staff writer   |   Wednesday, 17 December 2003, 08:00 Hrs
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NEW DELHI: iGate Global Solutions, one of India's leading mid-size software solutions firms, Wednesday said it had signed a $20 million technology outsourcing deal with the local arm of the Dutch financial giant ING Global.

As part of the agreement, iGate will assist in technology integration of various functions at ING Vysya Bank, one of India's leading private banking companies, according to an iGate press statement issued here.

The deal, which will remain valid for five years, will also see iGate taking responsibility for all data centre operations, and systems and network management at ING Vysya locations.

"It is extremely significant that ING Vysya has entrusted us with the entire technology function of the bank and we are confident of delivering on their expectations," said Phaneesh Murthy, chief executive officer of iGATE Global.

"Going forward, this model gives us an opportunity to provide back-office services to them in line with our integrated technology and operations strategy," Murthy added.

Bart Hellemans, chief executive officer and managing director of ING Vysya Bank, said: "Through their global experience and domain expertise iGATE will ensure that our technology systems are a key differentiator for us."

Headquartered in Bangalore, iGATE Global has its presence in 12 countries and maintains development centres in the US, Britain, Canada, China, and Malaysia, besides India.

ING Vysya Bank has a network of over 460 outlets across the country serving over two million customers.

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