Hexaware Technologies wins its largest ever APAC deal

Hexaware Technologies Ltd, on June 11, 2007 has announced that it has been selected by a major System Integrator in Japan to develop a core bespoke application for the IT modernization of the Postal department of a South East Asian country. The first phase of the deal worth US$18 million has been signed.

This is the first core application development of its kind for the postal department or in the logistics domain for the Company and is the largest ever APAC deal for the Company. At its peak, the Company is likely to deploy over 150 software developers for this multi-year logistics engagement. The deal will be primarily, be serviced out of Pune, which hosts Company's highly specialized Japanese Centre of Excellence.

Speaking on this occasion, Yogendra Shah, Senior Vice President-APAC region of the Company said, "Almost 20% of the Company's APAC revenues are generated from Japan and revenues are likely to double over the next four to six quarters. Deals such as this give us the necessary encouragement to continue building on our understanding of Japanese business and appreciation of their culture and language, which proved to be a real advantage in winning the deal."

Japan's IT market is ranked second next only to the United States and is one of the leading markets for the Company in the APAC region. The Company, in Japan, works with local partners who offer account management and provide onsite resources while the Company offers delivery excellence through offshore expertise.

Over the last 15 months, the Company has widened its reach significantly in the APAC region by opening new sales offices in Thailand, Sydney, Melbourne and Hong Kong and in addition to the above-mentioned locations; the Company has significant market penetration in Singapore, Malaysia, Japan, and India. The Company has 20 active clients in the APAC region.

In the Asia-pacific region, the Company has witnessed robust traction for IT services specifically in the ERP space and in the Travel & Logistics verticals. The addition of these under-served markets in a region already witnessing the fastest economic growth across the world augurs well for the Company.

Source : Equity Bulls

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