1 hr ago
Sonata Software Shares Rise After Five-Year AWS Collaboration
Sonata Software has signed a five-year agreement with Amazon Web Services, or AWS.
The deal is meant to help businesses move older computer systems to newer cloud systems.
Sonata will invest in teams focused on selling, designing and delivering AWS solutions.
The companies will work together in areas such as banking, retail, manufacturing, IT and healthcare.
They will use AWS tools for databases, artificial intelligence and cloud computing.
The goal is to help businesses become more reliable and flexible.
Sonata’s chief executive said the agreement will help the company work with customers earlier in their technology changes.
Investors responded positively, and Sonata’s shares rose during trading.
Sonata Software shares opened at Rs 291.75, up from a previous close of Rs 281.45.
The five-year agreement will expand Sonata’s AWS-focused sales, technical and delivery capabilities.
The companies will pursue joint go-to-market efforts in BFSI, retail, manufacturing, IT and healthcare.
Sonata plans to use AWS programs and services to support cloud modernization and AI-focused transformation.
The collaboration helped the stock reach an intraday high representing a gain of about 3.65%.
- Who
- Sonata Software and Amazon Web Services, with Sonata Information Technology supporting Indian enterprise customers.
- What
- The companies signed a five-year collaboration covering AWS capabilities, joint sales efforts and cloud modernization services.
- Where
- The collaboration focuses on India and joint efforts across multiple business sectors.
- When
- The agreement was announced as Sonata Software shares traded during the reported session; its duration is five years.
- Why
- To help enterprises modernize legacy technology, adopt cloud services and build foundations for digital and AI-led transformation.
Key facts
- Agreement duration
- Five years
- Previous share close
- Rs 281.45
- Opening share price
- Rs 291.75
- Reported intraday low
- Rs 277.05
- Reported intraday high
- Rs 291.75
- Focus sectors
- Banking, financial services and insurance, retail, manufacturing, IT and healthcare
- AWS programs mentioned
- Migration Acceleration Program and Managed Services Program
Quotes
Sujit Mohanty
Managing Director and CEO of Sonata Software’s Domestic Business
“This five-year collaboration with AWS represents an important step in advancing our cloud business in India. It will allow us to deepen our AWS capabilities, engage customers earlier in their transformation journeys, and address more strategic opportunities.”
businesstoday.in
Sources
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