Tuesday, July 16, 2013

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iGate Gets 5-Year $100M Outsourcing Order from US MetLife

Outsourcing services company iGate Corp. (IGTE) Tuesday said it has received a five-year contract worth more than $100 million to offer information technology infrastructure solutions to U.S. life insurer MetLife Inc. (MET).

As part of the deal, iGate said in a statement, it will manage the IT systems of the U.S. company and provide applications support and enterprise network services. iGate is U.S.-based and listed on the Nasdaq Stock Market, employing 28,000 people, mainly in India.

Some parts of the contract were previously managed by a major U.S. IT services company and one of the top Indian outsourcing companies, Sanjay Tugnait, executive vice president and head of sales for North America at iGate, told the Wall Street Journal.

iGate, which already has a 10-year outsourcing partnership with MetLife, said the deal will be based on a business model where the company charges the client using an outcome-based pricing approach.

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