Mid-tier Indian IT firms see deals back after slowdown due to Covid-19

PUNE: Mid-tier technology services firms have signed on new deals over April and May, shaking off a slump seen in March due to the Covid-19 pandemic induced lockdown in several countries.

Several companies across the world temporarily halted new projects as economies went into a tailspin following the outbreak, but certain industry segments have started engaging with their IT partners to cut costs and remain relevant.

Zensar Technologies, which had a deal pipeline of $600 million at the end of March, said it had reached $1 billion by early May.

“About 70% of this is from digital deals. There will be significantly higher cloud adoption and the post Covid-19 systems of engagement will change to become more virtual,” CEO Sandeep Kishore told ET.