This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

IGATE Wins A $100 Million Global Infrastructure Services Contract From MetLife

  • This multi-million dollar deal further strengthens iGATE's 10-year long partnership with MetLife
  • Five-year Managed Services contract reiterates iGATE's global leadership in the Insurance space

FREMONT, Calif., June 25, 2013 (GLOBE NEWSWIRE) -- iGATE Corporation (Nasdaq:IGTE), the first Business Outcomes driven integrated Technology and Operations (iTOPS) solutions provider, today announced a new five-year contract valued at over $100 million for providing global infrastructure services for MetLife, Inc., a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers.

Celebrating the completion of 10 years of partnership in providing services globally to MetLife across North America, EMEA and Asia-Pacific, this additional deal deepens iGATE's relationship with MetLife, further increasing its level of engagement to include complex and mission critical services. Post the ALICO acquisition, MetLife has been executing on its strategy to simplify operations to realize the benefits of its global footprint and be better positioned to meet customer needs, reduce operating costs and operate as a truly global company. iGATE participated in a competitive bid to assist MetLife in building out an Innovative Infrastructure model to manage its IT systems towards greater efficiency and flexibility, in order to drive lower costs and increase business agility. The bid was awarded to iGATE on its quality and creativity of the solution, as well as innovative commercial structuring based on the industry leading ITIL based Infrastructure support model.

Jim O'Donnell, Senior Vice President, Enterprise Infrastructure & Architecture (CTO) MetLife, Inc. said, "We are delighted to further strengthen our 10-year association with iGATE. With iGATE's support in technology and operations, MetLife is committed to provide a best-in-class customer experience whilst we continue to drive efficiency, eliminate redundancies that add cost and complexity & improve our understanding of customers. The year-on-year productivity and quality improvement parameters were clearly visible through the Managed Services program it provides."

Commenting on this engagement and the MetLife relationship, Sanjay Tugnait, EVP, Head of Sales - North America and Global Head of Alliances, iGATE, said, "This win is a strong validation of iGATE's domain and technology expertise in the insurance industry. Our 10-year long relationship with MetLife has given us deep understanding of the company's global businesses and will enable us to achieve definitive business imperatives for them in terms of both cost rationalization and high levels of service delivery. We remain committed to our long standing partnership with MetLife and will work to further strengthen their service offering and customer experience driven by our proven outcomes-based model."

The solution cuts across a portfolio comprising of Data Services Engineering and Implementation, Middleware Support and Implementation, Infrastructure Application Development Services, Enterprise Networking and Messaging, Infrastructure Project Management and Infrastructure utility services. iGATE's solutions will also be differentiated by its flexible technology stack to enable SLA measurement.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs