BANGALORE: Technology services company Hewlett-Packard won a Rs 400-crore technology outsourcing contractpublic sector lender Corporation Bank, beating India's largest IT firm Tata Consultancy Services and Wipro.
The deal win comes at a time when Indian software-exporters are winning outsourcing contracts coming up for renewal in the United States and Europe at the cost of incumbentsHP and IBM.
The Palo Alto, California-based PC-maker won the seven-year contract because of its higher technical competency despite Wipro and TCS quoting lower amounts, a senior Corporate Bank executive said on condition of anonymity. Both HP and Corporation Bank declined to comment.
The contract is for switching and managing the bank's core-banking softwarethe current version made by Chennai-based software company Polaris Financial Technology to Finacle, made by Bangalore-based Infosys.
The deal can be extended for a further three years at the bank's discretion. Under the terms, HP will also design and implement necessary enterprise software besides setting up and maintaining the bank's data centre.
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