Tech Reliance gets 5yr contract from Rel Cap
posted in Outsourcing News and Top Outsourcing deals |Source: www.business-standard.com
Tech Reliance, the recently formed IT subsidiary of the Anil Dhirubhai Ambani Group (ADAG) , has received a five-year outsourcing contract from group firm Reliance Capital.
This is the first deal for Tech Reliance - a company that was formed for the group’s foray into the information technology consulting and services segment. The financial details of the contract could not be ascertained.
Under the contract, Tech Reliance will manage IT infrastructure and applications management services for Reliance Capital’s group companies including Reliance Money and Reliance Insurance. The IT subsidiary was being awarded the contracts at market-determined prices, sources close to the development said.
According to sources, Reliance Capital was looking at outsourcing all its IT requirements and expecting a 250% increase in its total geographical footprint over the next two years.
When contacted, a Reliance Communications spokesperson declined to comment.
Tech Reliance was formed as an umbrella brand three weeks back with the group bringing all the IT firms under its fold under the subsidiary. It has over 2,000 employees, and apart from the Reliance ADA group companies, it was also scouting for opportunities from non-group companies.
The group also has an in-house technology innovation division that was engaged in R&D, and testing of new technologies.
