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.
“The deal is for five years, and is a block-buster one. We will build a centre of excellence in Malyasia, and start hiring locals there. Aviation, as a segment, has been great for us, and the focus on a niche segment has paid off,” he told this correspondent.
“We’re welcoming back people who have left Ramco, any alumni who have good experience in Ramco and a deep knowledge of the customers. Mostly mid-level managers and below,” Mr. Aggarwal added.
The new centre of excellence will also service other customers.