LTIMindtree extends deal with Europe's Nexi Group by over 2 years

LTIMindtree, India’s sixth largest IT services company, has secured an extension of a key contract from European payment solutions provider Nexi Group, the Mumbai-based firm said on Tuesday.

As a part of the partnership, LTIMindtree will leverage its technical expertise and solutions to optimise Italy-based Nexi's core platforms, aiming to enhance performance, innovation and scalability, LTIMindtree said in a statement.

LTIMindtree will also manage Nexi's hybrid infrastructure, enabling a seamless integration of on-premise and cloud-based solutions, while supporting the company’s digital transformation efforts, the company said.


The extension comes following a 22-year existing partnership for the L&T group firm with Nexi group.

“By leveraging our deep domain expertise and global delivery capabilities, we are confident in driving Nexi’s growth and success in the highly competitive digital payments industry,” said Sudhir Chaturvedi, president & executive board member at LTIMindtree.

In the quarter ended September, LTIMindtree closed a $200 million plus deal, historically its largest, from a US based manufacturer. The total order intake for the three-month period was flat year-on-year at $1.3 billion but down 7% from the previous quarter.

LTIMindtree’s large deal pipeline stood at $5 billion plus with several deals close to finalisation, its chief operating officer Nachiket Deshpande recently told ET.

“Their proven expertise and global reach will help us enhance the resilience and flexibility of our platforms, supporting Nexi’s mission to offer secure, innovative, and frictionless payment solutions for businesses and consumers across Europe,” said Giuseppe Dallona, chief information officer of Nexi Group.

LTIMindtree shares ended 0.67% higher at Rs 5,876.60 apiece on the BSE on Tuesday.