Tech Mahindra has closed a large deal for metaverse engineering, a senior company executive told BusinessLine. The IT services major will not only be focusing on user experience, but will also be building various hardware components and back-end technologies.
Along with 5G network offerings, metaverse will be an enabler for winning deal going forward.
Speaking to BusinessLine, Manish Vyas, President, Communications, Media and Entertainment (CME) Business, and CEO, Network Services, Tech Mahindra said, “There’s a lot to expect in the metaverse space. We have just begun our journey. It’s not just the user experience. We are not just looking at metaverse in the front end but as an ecosystem.”
“Our big bet will be in designing infrastructure and devices. We’ll be looking at industry use cases for manufacturing, retail and even media and content via gaming and collaborations too. In its big bets in the metaverse, Tech Mahindra will look into underlying engineering and overarching user experience,” Vyas added.
‘Exciting tailwinds’
“We have quite a few exciting tailwinds in the engineering space. In 5G network business, we have new products and devices. One of the large deals we have recently closed is in metaverse world. This too will involve a lot of engineering. It will reflect in our upcoming quarter,” he said.
Tech Mahindra is trying to build a comprehensive ecosystem for metaverse similar to its 5G services offerings. This will require the company to have strategic partnerships in place. The company has already started reaching out to ecosystem partners to collaborate on metaverse offerings. It recently hosted a conference with potential partners to discuss the same in California.
The success of its 5G services vertical has boosted the IT services company’s confidence . Tech Mahindra closed two major deals in the 5G space last year. The company’s revenue from 5G services vertical grew from $125 million in FY21 to $675 million in FY22, Vyas mentioned.
He said, “We have had the best ever business for CME vertical over the last 12 months. In terms of growth rate, we have grown over 18-19 per cent. Volumes wise we have grown the fastest. We are the fastest growing company in the telecom sector compared with our domestic and international peers.”
Published on
May 27, 2022
