Sonata Software soars 4% on multi-year AI-backed managed services deal win

Sonata Software share rose after the company announced that it has secured a multi-year artificial intelligence (AI)-powered managed services contract from a Fortune 500 manufacturing company

Sonata Software share price: Software company Sonata Software rose up to 4.37 per cent to hit an intraday high of Rs 609.95 per share on  Wednesday, October 23, 2024.

The uptick in Sonata Software share price came after the company announced that it has secured a multi-year artificial intelligence (AI)-powered managed services contract from a Fortune 500 manufacturing company.

Under a multi-year agreement, Sonata Software will implement a robust and scalable operating model to support the company's global growth and ongoing digital transformation.

Meanwhile, the client is collaborating with Sonata Software to modernise its operations and provide a seamless, unified user experience at scale. Leveraging AI and industry best practices, this partnership aims to enhance operational efficiencies and achieve a profitable return on investment.

 

This Fortune 500 company has partnered with clients to design, develop, and manufacture innovative packaging solutions focused on the circular economy. Furthermore, it has strengthened its market presence over the years through multiple acquisitions.

“With our extensive expertise in Cloud and infrastructure services, Sonata Software is thrilled to provide the client with a customised full-stack ITSM solution,” said Anthony Lange, Chief Revenue Officer at Sonata Software. 

“Our approach focuses on optimising resource utilisation, adapting to evolving technological landscapes, and achieving operational excellence. By implementing best practices, we are confident of helping the client unlock maximum value from their digital transformation journey,” Lange added.

Sonata Software Limited (SSL), based in Bangalore and founded in 1986, offers a range of IT services and software solutions to clients worldwide. Its services include cloud and data modernization, Microsoft Dynamics modernization, digital contact centre setup and management, managed cloud services, digital transformation, business app modernisation, platformation consulting, and data analytics. SSL partners with leading technology providers such as Microsoft, Amazon, and Google to assist Fortune 500 companies in reimagining their business processes.

The company stresses upon key focus areas like innovation, customer-centricity, modernization engineering, platform technology excellence, design innovation, and strategic engagement models. 

The market capitalisation of Sonata Software is Rs 16,515.62 crore, according to BSE. 

At 9:36 AM, Sonata Software shares were trading 0.78 per cent higher at Rs 588.95 per share. In comparison, BSE Sensex was trading flat at 80,231 levels.