Ramco Systems has landed what its CEO calls “its largest-ever deal yet” as the software product company looks to shrug off its loss-making tag, and script a turnaround story.
The deal, which is a strategic partnership with Malaysia Airlines where Ramco will provide a suite of aviation solutions, is worth close to 20 per cent of Ramco’s annual revenue. The Chennai-based company’s annual revenue for 2012-13 was roughly $46 million.
According to CEO Virender Aggarwal, the deal will result in ramped up hiring, with the company looking to woo back mid-level management that has left Ramco, and a new centre of excellence in Malaysia.
Full report here Hindu