You are using an older browser version. Please use a supported version for the best MSN experience.

Tech Mahindra signs deal with Premium Credit

LiveMint logoLiveMint 27-05-2014 Madhura Karnik

Mumbai: Tech Mahindra Ltd., India’s fifth largest software company, has signed a deal with Premium Credit Ltd, an insurance premium finance company in the UK and Ireland, to provide it front- and back-office services.

The company will provide operational support and maintenance services, as well as development and implementation, it said in a statement. Financial details of the deal were not disclosed.

The banking, financial services and insurance practice is one of the largest contributors to revenue at Tech Mahindra. Europe constitutes around 32% of its global revenues.

“The companies are working together to develop Premium Credit’s financial infrastructure as a connected, flexible business platform that will continue to support the business’s growth,” said Vikram Nair, head of Europe, enterprise, at Tech Mahindra.

The announcement was made after market hours.

Shares of Tech Mahindra gained 2.56% to Rs1,853.75 on Tuesday on the BSE while the benchmark Sensex dropped 0.68% to close at 24,549.51 points and the BSE IT Index gained 0.29% to 8,588.65 points.

More From LiveMint

image beaconimage beaconimage beacon