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Moneycontrol India :: News :: Tech Mah, Accenture in JV with BT for $1-b deal: Sources :: Tech Mahindra :: Business :: Tech Mahindra ,Accenture ,Vineet Nayyar

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Tech Mah, Accenture in JV with BT for $1-b deal: Sources

2008-05-20 23:01:23 Source : CNBC-TV18

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By Kenan Machado, CNBC-TV18

Tech Mahindra and Accenture would partner with British Telecom for USD1 billion deal, reports CNBC-TV18, quoting sources. It will be the largest shareholder in the deal and would receive 70% of the JV business. The IT major would get a low margin, outsourcing business whereas Accenture would offer consulting services. Other than that, Tech Mahindra will also offer application rationalizing services for which the tenure would be five years.

Vineet Nayyar, VC, MD & CEO, Tech Mahindra said, �We would be willing to give them a certain amount of savings over a five-year period. This payment is part of the savings which they would be securing. At this moment we are in negotiations; we cannot let you know who the other consortium partner is.�

CNBC-TV18 Disclaimer

This information is source-based and has not been provided to the stock exchanges.