MindTree Ltd said has inked two deals worth more than USD 70 million over the next five years to provide infrastructure management services to overseas clients.The company said it had signed the deals with a European information and communication technology service provider and a U.S.based bank. Ram Mohan, senior vice president, said he expects the two deals to have a combined workforce requirement of 250 to 300 employees. The company plans to expand its centres in Bangalore and Chennai, anticipating more large deals in the remote infrastructure management area, Mohan said.
Mohan, who also heads infrastructure management and technology support for the firm, however, did not disclose the expenditure earmarked for the expansion.
"We are looking at several prospects at this point of time, both in the U.S. and Europe," he said, adding he expects MindTree to win more such deals in the next two or three quarters.
Infrastructure management is still a nascent, but a fast growing business for MindTree and is expected to contribute about 7 to 8 percent to the firms total FY11 revenue, he added.
The deal cheered investors after a spate of bad news from the company in the past few months.
Ashok Soota, the companys chairman and co-founder resigned last month citing personal reasons.
Last year, MindTree unexpectedly rolled back its plans of launching a 3G smartphone based on Google Incs Android platform.
The company also went through a phase of restructuring as it converted its handsets and 4G long-term evolution IPR business into providing research and development services to network infrastructure and handset firms.