Atos Syntel sees faster growth in niche, emerging tech deals
November 28, 2019 - ETtech
Atos Syntel is seeing faster growth in niche, emerging technology driven deals and will continue to chase more projects in the range of $10-40 million dollars as it sees faster growth in the segment compared to huge deals according to Chief executive, Rakesh Khanna.
IT spenders are increasingly looking to break down larger deals, Khanna said, speaking to ET.
The company's ability to secure deep technology-driven projects with elements of IoT, cloud and analytics had been bolstered by its merger with 12-billion French software services firm Atos, which acquired Syntel last year, he said.
"We've won deals together that we couldn't have won as standalone Atos or Syntel. Earlier, you would spend millions on a Ferrari, but now it's going to be in parts. That's the way it has evolved. So funding is in parts, you don't hear of those mega $800 million deals. You need that $10, 20 and 40 million deals and that one big deal. That's what everyone's aspiring and where the market is headed," he said.
The appetite for smaller, innovation-led deals has been growing and competition has increased among mid-sized firms to capture a larger piece of the pie. Larger players like Cognizant are also looking to increase market share in the segment, choosing to go after more project-oriented digital work and more contracts with lower total contract value.
Read the full article here: https://tech.economictimes.indiatimes.com/amp/news/technology/atos-syntel-sees-faster-growth-in-niche-emerging-tech-deals/72269261/