HCL wins Merck mega deal worth $500 million
SOURCE: EconomicTimes
DATE: May 4th, 2010
HCL to provide integrated services to Merck in nearshore locations in Raleigh, NC and Poland and China plus leverage their other global locations. With large big ticket deals being on the down trend, this is a big win for HCL.
India’s fifth-largest IT services company HCL Technologies on Tuesday bagged a $500-million strategic IT outsourcing contract from the US-based Merck Sharp and Dohme (MSD). The pact with one of the largest drug makers in the world may indicate the return of the large-ticket deals in the Indian IT sector.
Large size deals of the order of $300 million or above had virtually disappeared from Indian IT sector in the past two years. The average size of deals was reduced to the $50-$120 million range, as CIOs cut IT budgets during market meltdown.
Globally, healthcare and pharmaceutical sectors together present a $47 billion outsourcing opportunity which has been growing at a steady 2-3%, unaffected by recession. IT-BPO spending by pharmaceutical companies however is growing at over 20%, according to IT industry body Nasscom.
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