 "WNS renews contract with Aviva for another five years")
The contract that would be expiring on November 16, 2016 has been renewed for an additional five years until March 31, 2022 on mutually acceptable terms. Financial details of the deal were not disclosed.
“We look forward to continue being an extension of Aviva’s enterprise delivering innovative solutions to their global business operations,” said Keshav R. Murugesh, Group CEO, WNS. It had acquired Aviva’s captive centres in India and Sri Lanka in 2008 for $230 million.
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Along with the acquisition WNS also secured business worth $1 billion for a period of eight years from Aviva. According to analyst contract renewal is going to be a key focus area for 2014 as several large deal are coming up for renewal.
According to data from ISG, a company that tracks outsourcing, $112.95 billion of infotech contracts are due for renewal in 2014. The share of Indian vendors in this is 16 per cent, a business opportunity of about $18 billion. India’s share in the renewal market will range between 16 and 18% over three years, ISG has said.