Shares of Sonata Software soared 8% on Monday, 28 April, after the company announced that a large US technology, media, and telecommunications (TMT) corporation had hired it to oversee a $73 million digital modernization program powered by artificial intelligence (AI).
According to an exchange filing, Sonata’s five-year partnership will boost the client’s worldwide scalability, innovative capabilities, and operational efficiency.
Sonata Software will set up an AI-enabled Modernization Engineering Center in India as part of the agreement with the US-based TMT company. According to the filing, the centre’s focus will be on platform engineering, cloud transformation utilizing Amazon Cloud, enterprise system implementation, including Salesforce and Workday, cybersecurity, data services, and modern applications.
Samir Dhir, Managing Director and CEO of Sonata Software said, “This is the second-largest deal in Sonata’s history—and a proud milestone for Team Sonata. It reflects our unique positioning as a right-sized partner for enterprises seeking deep modernization capabilities and AI-first transformation.”
The company stated that the US-based client has selected it for its “deep engineering expertise, nimble delivery model, and proven track record in driving AI-powered business transformation”.
Sonata stated that the client’s goals for this relationship include enhanced operational efficiency, accelerated innovation cycles, and improved ability to scale across many global markets.
According to the company, its “Platformation.AI” approach is intended to create efficient and agile digital businesses by offering a comprehensive suite of modernization engineering services that include data, cloud infrastructure, Dynamics integration, automation, cybersecurity, and emerging technologies such as Generative AI and Microsoft Fabric.
It stated that collaboration would be a big step forward in the client’s digital strategy, allowing it to transition to an AI-first outsourcing model and maintain leadership in the quickly expanding TMT sector.
Sonata Software, which has an annual revenue of $1 billion, specializes in modernization engineering technology.
At 1:04 pm, the shares of Sonata Software were trading 7.01% higher at Rs 361.60 on NSE.
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