Mahindra Satyam, erstwhile Satyam Computer Services, said on Thursday it had signed a four-year offshore contract with KMD, a Denmark-based information technology company, for $48 million (about Rs 218 crore).
The new contract, an extension of a previous contract due to expire this year, would end in December 2013.
"We view this significant contract award as a great endorsement of the quality of work we have already delivered and a real testament to the success of the partnership that has developed between the two companies. We look forward with anticipation to the next phase of this relationship," CEO C P Gurnani said in a statement.
"About 200 associates will be engaged to offer offshore work from our development centre in Bangalore," a top Satyam official told Business Standard. Mahindra Satyam employs around 4,000 professional in Bangalore.
The new contract involves stronger partnership and multi-fold increase in business commitment. The scope of application development work covered will primarily include SAP, as well as other technologies such as Mainframe applications, .Net, Java, BizTalk, WebLogic, PL/1, Sharepoint and MQ Series.
Satyam stocks rose 0.10 per cent to end at Rs 98.20 on the BSE on Thursday.
