Modernization Engineering Company Wins Large Multi-Year, Multi-Million Dollar Strategic IT Outsourcing Deal From US-Based Premier Healthcare and Wellness Company
The stock is up by 40.2 per cent from its 52-week low of Rs 469 per share and gave multibagger returns of 1,430 per cent in 1 decade.
Sonata Software Ltd [NSE: SONATSOFTW, BSE: 532221], a leading Modernization Engineering company, has announced that it has been chosen as a Strategic IT outsourcing partner by a US-based premier Healthcare and Wellness company. This strategic deal was successfully secured in June 2024, following an extensive evaluation and selection process and was also discussed during our Q1FY25 earnings call on July 31, 2024.
The company's primary focus is delivering personalized, high-quality care that addresses the unique needs of vulnerable patients and underserved populations in challenging clinical environments and other behavioural health settings. It is committed to improving health outcomes through comprehensive, patient-centered programs. As part of the collaboration, Sonata Software will support the client in achieving dual objectives: optimizing IT budgets and cost efficiencies through systemic improvements and engineering levers and modernizing their technology landscape by leveraging Enterprise data, Artificial Intelligence, and hyper-automation across patient-facing systems, and back-office operations.
About Sonata’s Healthcare & Lifesciences Vertical
As part of its strategic five-year plan to achieve USD 1.5 billion in annual revenue, Sonata Software has made targeted investments in the Healthcare & Life Sciences (HLS) vertical. This investment is already yielding returns, making HLS one of Sonata's fastest-growing Business Units.
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About Sonata Software
Sonata, a leading Modernization Engineering company based in Bengaluru, India, leverages its expertise in technology modernization to help clients navigate the complex market landscape. Amidst the conflicting demands of cost reduction and digital transformation, Sonata offers a unique solution by combining its Lightening suite and 16-step Platformation playbook. This approach accelerates time to market and drives hypergrowth for clients across various industries. With a global presence and a strong track record of partnering with leading companies, Sonata's modernization services encompass cloud, data, dynamics, contact centers and emerging technologies like Generative AI, MS Fabric, RPA and other modernization platforms.
On Thursday, shares of Sonata Software Ltd gained 5.24 per cent to Rs 657.70 per share with an intraday high of Rs 677 and an intraday low of Rs 642.30. The shares of the company saw a spurt in volume by more than 5 times on BSE. The stock is up by 40.2 per cent from its 52-week low of Rs 469 per share and gave multibagger returns of 1,430 per cent in 1 decade. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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