Cigniti bags $10 mn deal from US-based financial institution

IT firm Cigniti Technologies has bagged a deal with an annual contract value of over $10 million (about Rs 76 crore) from one of the largest and oldest financial services firms in the US to accelerate the digital transformation of the firm, the company said on Tuesday.

Without disclosing the name of the client, Cigniti said it is a Fortune 500 company with operations in more than 20 US states and offices in three continents.

''The deal has the potential to immensely grow in the coming years,'' it added. Cigniti Technologies CEO Srikanth Chakkilam said that the deal is a testament to the company's ability to win large deals.

''It further improves our BFSI revenues, which are already contributing 19.23 percent of total revenues,'' he added. Cigniti said that it is one of the largest deals won by the company.

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(With inputs from PTI)