Mastech Digital Announces New Deals Worth $23 Million Signed in December 2019
Such a large value of bookings in one month is unprecedented for the Company. These new orders have been received from blue-chip customers in the financial services, pharma, and healthcare verticals. Most of the order value has come from two large Center of Excellence ('COE') assignments, which are multi-year annuity engagements. These bookings are not only a strong leading indicator of future revenue growth but also should help mitigate some of the lumpiness in our quarterly results from the data and analytics business.
Commenting on these large wins,
Commenting on the transformation of the business unit, Mastech Infotrellis's Chief Executive, Paul Burton, said, "I am excited to see the results of all the hard work put in by the team since I came on board a year ago. Our Center of Excellence service offering has gained traction with our clients and has positioned us as a strong long-term partner for all their data & analytics needs. These COE engagements also give us a more predictable annuity-based revenue stream. The deals signed in December are just the beginning. There are more multi-million, multi-year COE deals in the pipeline."
About
Mastech Digital (NYSE American: MHH) is a leading provider of Digital Transformation IT Services. The Company offers Data Management and Analytics Solutions, Digital Learning, and IT Staffing Services with a Digital First approach. A minority-owned enterprise, Mastech Digital is headquartered in Pittsburgh, PA with offices across the U.S., Canada, and India. For more information, visit www.mastechdigital.com.
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