Tata Consultancy Services (TCS) signed a deal with UK’s National Employment Savings Trust (Nest), worth $1.9 billion for a total contract period of 18 years (Photo: PTI)
Large cost-optimisation deals are gradually returning for top-tier Indian IT services companies and hiring is likely to see an uptick as clients turn to technology to optimise costs amid the uncertain macro-economic environment.
Typically, top-tier IT companies consider deals worth $100 million or more as large deals and those more than $500 million are referred to as mega deals.
In the recent months, both TCS and Infosys announced bagging mega deals. Phil Fersht, CEO and chief analyst, HFS Research said, “These are largely cost-centric deals with a big focus on transformation. But good long-term clients for TCS and Infy to invest in, as we ride out these turbulent times.”
First Published: Jun 29 2023 | 2:58 PM IST