Stockmann, Tech Mahindra ink pact for ICT solutions

03 Nov 2016

Stockmann, a Finnish company engaged in retail operations, has signed a five-year cooperation agreement with Tech Mahindra to produce part of Stockmann’s ICT (Information and Communications Technology) services. As a consequence, Stockmann will consolidate the maintenance and development of business applications and infrastructure offered by more than 20 current service providers and delivered from several countries to one dedicated supplier. At the same time, 33 of Stockmann's current ICT employees are planned to transfer to Tech Mahindra on January 1, 2017 under a business transfer agreement. The target of the planned changes is to reduce Stockmann’s ICT costs by about EUR 4 million annually from 2018 onwards.

Tech Mahindra is a specialist in digital transformation, consulting and business reengineering, offering innovative and customer-centric information technology services and solutions to over 825 customers globally. The company which has been providing IT services in the Nordic region for around last 10 years, has over 2000 employees working for customers in the Nordic region spanning across sectors such as automotive, aerospace, financial services, public sector as well as retail among others. Recently, the company launched its European hybrid cloud infrastructure facility, from the Nordic region.

Related Tech Mahindra Ltd. Links:

Tech Mahindra Share Price

756.65 0.00 (0.00%) Nov 13, 18:51
1 Year Price Chart
Peers
Company Name CMP
TCS 2178.55
Infosys 691.25
HCL Tech. 1143.10
Wipro 252.75
Tech Mahindra 756.65
View more..
Sensex vs Tech Mahindra
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

Callback

8055769463

8055769463