Tech Mahindra Ltd. on Thursday announced the expansion of its strategic collaboration with AT&T to accelerate AT&T’s IT network application, shared systems modernization and movement to the cloud.
Shares of the IT major are trading higher by ~5% in early trade on Friday.
In a multi-year agreement, Tech Mahindra will assume management of many of the applications which support AT&T’s network and shared systems. The agreement will enable AT&T to focus on core objectives, including having the most advanced software-defined 56 network, and migrate the majority of its non-network workloads to the public cloud by 2024.
This comprehensive program will help drive sustainable operational improvement across the network and software development domains.
Although TechM did not disclose the deal size, it is estimated to be worth $0.6-1bn by media sources.
Jon Summers, CIO, AT&T Communications, said, “Our agreement with Tech Mahindra is another step forward in delivering greater flexibility across our IT operations. This includes optimizing our core operations and modernizing our internal network applications to accelerate innovation as we march forward to our goal of a nationwide 5G network by the first half of 2020. Our collaboration with Tech Mahindra will ultimately help accelerate our network operations and overall technology leadership.
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