Voda-Idea, IBM sign $700-800 million five-year IT outsourcing deal

Kolkata | New Delhi: Vodafone Idea has inked a new $700-800 million (Rs 4,900 crore-5,600 crore) 5-year technology outsourcing contract with IBM that is expected to contribute a major part to the Rs 8,400 crore annual opex savings the telecom market leader set out to achieve by FY21. In a statement on Friday, Vodafone Idea’s CEO Balesh Sharma said the renewed 5-year strategic collaboration with IBM opened new opportunities for the company to partner together in domains like cloud, AI and IoT.

“We will also be able to leverage collateral from the cloud partnership already announced between Vodafone and IBM in Europe. Achieving synergies, post-merger from the combination of Vodafone India and Idea CellularNSE -0.31 % is a strategic priority for us and we continue to be ahead of track,” Sharma said.