Big IT bags $1.5-b BP contract

The Five-Year Outsourcing Deal May Fetch Revenues Of Over $100 M Each INDIA'S top three software exporters TCS, Infosys Technologies and Wipro, along with MNC rival IBM, on Wednesday, announced that they have won new outsourcing contracts from British Petroleum (BP) to be delivered over the next five years. The deal is valued at around $1.5 billion.      As reported by ET last month, India's offshore outsourcing firms including TCS, Infosys, Wipro and Mahindra Satyam had locked horns with MNC rivals IBM and Accenture for up to $1-billion outsourcing contracts to be awarded in August by BP.      While the companies did not disclose the value of the new contracts, experts tracking the sector said Indian suppliers are expected to earn revenues in excess of $100 million each over the next few years from BP. "BP expects to save up to $500 million from these outsourcing contracts," a UK-based outsourcing expert told ET on conditions of anonymity.      BP, which used to outsource a majority of its application development, system integration and infrastructure management projects to almost 30 suppliers, including IBM, Accenture, Mahindra Satyam and Infosys, wanted to bring down its IT costs by up to 30% by working with fewer vendors handling more work at lower rates.