The sixth largest software exporter of India Tech Mahindra has inked a deal worth $700-million or Rs 2,975 Crore with the British Telecommunications (BT) group of UK, which is its biggest client and shareholder, for a five year period.  Tech Mahindra is a joint venture (JV) between Mahindra & Mahindra Limited (M&M) and British Telecommunications plc (BT) of UK, with M&M holding 57 per cent and BT holding 43 per cent of the equity.

Commenting on the deal, Mr Sanjay Kalra, President, Strategic Initiatives, Tech Mahindra, said that his company will primarily be responsible for helping the UK telecom firm transform its IT infrastructure so that it will lead to a better customer experience for telco’s subscribers.

Mr Kalra also pointed out that due to this new deal, the backlog orders on the Mahindra group company will be worth $ two billion from the British Telecommunications alone. Tech Mahindra is known to have clinched tow other deals in the last two years from BT - one worth $ one billion and the other valued at over $350 million. Otherwise too, both BT and Tech Mahindra have collaborated in a number of projects in the past 20 years.