Nasdaq-listed software services firm iGate Corp has won a five-year contract valued at more than $100 million (about Rs 590 crore) from US-based insurance company MetLife.
The present deal includes providing complex and mission critical services, iGate said in a statement on Wednesday.
The California-based company would provide information technology (IT) infrastructure services to MetLife and help the insurer simplify operations and increase business agility. MetLife has been iGate’s client for the past decade, providing services across North America, Europe, West Asia and Africa and Asia-Pacific).
“Through this contract, we will enable MetLife to transform its service delivery framework from a resource and capacity-based model to a scope and service level based one,” said Ganesh Iyer, Senior Vice-President, Insurance, iGate.
In May, iGate has sacked its Chief Executive Officer Phaneesh Murthy for his failure to disclose a personal relationship and named insider Gerhard Watzinger as interim CEO.
A New York-based law firm Pomerantz Grossman Hufford Dahlstrom & Gross has also filed a class action suit against iGate and some of its officials alleging violations of federal securities’ laws.