IBM & Tech Mahindra deepen ties, target $1 billion annual revenue for three years
IBM chairman and CEO Arvind Krishna and Tech Mahindra CEO CP Gurnani said 40 percent of the revenue will be driven by Telco & 5G, powered by Hybrid Cloud, while 60 percent of the revenues will be driven by other industries.
February 16, 2021 / 08:05 PM IST
IBM and Tech Mahindra have entered into a fresh agreement as part of which they will be working on five strategic focus areas and co-invest to set up centres of excellence, targeting $1 billion of revenues each over the next three years.
Speaking to journalists, IBM chairman and CEO Arvind Krishna and Tech Mahindra CEO CP Gurnani said 40 percent of the revenue will be driven by Telco & 5G, powered by Hybrid Cloud, while 60 percent of the revenues will be driven by other industries. The five strategic focus areas include 5G, Automation, Hybrid Cloud, Cyber Security, Data and Artificial intelligence (AI).
Arvind Krishna said hybrid cloud is the destination for enterprises and the government and that with over 175 zetabytes of data available in the next few years, AI will unlock 14-16 trillion dollars of opportunity/productivity.
"The role of digitisation has increased dramatically and can bring massive opportunities and benefits to clients. A tech and innovation centre will be set up in Bengaluru. We have an incredible focus on India. India is a source of great talent. Remote working will help Indian IT companies expand market share globally, we can help them expand with digital infrastructure," Krishna said.
At the same time, CP Gurnani said, "Our partnership with IBM is almost two decades old. Tech Mahindra has redoubled its commitment to IBM and we will build a billion dollar ecosystem for each other, as we solve problems for our clients. Both companies will invest in centers of excellence."