Satyam Computer, India's fourth-largest software firm, said Monday it won a three-year contract extension from Nestle as the industry fights to retain and add clients amid rising competition.
Under the contract, the Hyderabad, southern India-based Satyam is providing software development and maintenance and infrastructure management services to Swiss-based Nestle, the world's largest food and beverages maker.
"We measure business success in many ways but none more important than long-term customer relationships," said Subu Subramanian, a director and senior vice president at the Indian software firm.
Satyam is battling bigger rivals Tata Consultancy, Infosys and Wipro to preserve and expand its client base as India's 49 billion dollar software industry faces an erosion of profit margins because of rising costs and the rupee's appreciation. "This new contract represents a continued commitment from Nestle and is a significant milestone for Satyam," the company said in a statement. The company did not give any financial details.
As a result of the agreement, the number of Satyam consultants working for Nestle is expected to grow to close to 500 from 350 over the next year, it said. Satyam Computer employs 40,000 software professionals to service 558 global companies spread over 55 countries.
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