Calcutta, July 21: ITC Infotech has entered into a software outsourcing agreement with PTC — a Nasdaq-listed US company that earned $ 740 million in 2002 — which will generate Rs 250 crore in revenues over 39 months.
ITC Infotech claims this is one of the biggest software outsourcing deals ever clinched by an Indian company. The company is establishing an offshore development centre at its Bangalore campus, and will be employing 130 professionals to service PTC and its clients.
The agreement with PTC covers the entire range of service requirements for its full suite of lifecycle management products. A release from Virginia House says ITC Infotech will effectively become an integral part of PTC’s global service delivery system under the terms of the three-year deal.
“When PTC’s solutions and services are combined with ITC Infotech’s global delivery model, the outcome is a truly competitive solution of unmatched quality for our customers,” said C. Richard Harrison, PTC’s president and chief executive officer.
Sanjay Verma, ITC Infotech’s managing director, said the two companies would leverage their synergies to increase market share and improve operating margins.
ITC Infotech — a wholly-owned arm of tobacco major ITC Ltd — already has tie-ups with companies like Microsoft, Sun and IBM. ITC Infotech provides software solutions in the fields of e-business, knowledge management and collaborative product commerce. Its clients include Abbey National, British American Tobacco, Pharmacia and Sony among others.