Contract Award Details
Workmates Core2Cloud Solution Limited has been awarded a Work Order from a leading retail broking and financial services company for migration of their existing workloads to Amazon Web Services (AWS) cloud infrastructure and deployment of new applications on the AWS cloud platform.
Financial Terms
- Initial order value: USD 260,000 (United States Dollars Two Hundred Sixty Thousand)
- Estimated future value: Multi-million Dollar as Annual Recurring Revenue (ARR), exclusive of applicable taxes
- Revenue ramp-up period: Approximately 24 months from commencement of engagement
- Revenue model: Annual Recurring Revenue (ARR)
Contract Scope and Timeline
- Services include migration of existing workloads to AWS cloud infrastructure
- Deployment of new applications on AWS cloud platform
- Includes managed cloud services and operational support
- Full ramp-up to ARR value expected over approximately 24 months from commencement
Counterparty Information
- Awarding entity: A leading retail broking and financial services company (domestic)
- No promoter/promoter group/group company interest in the entity that awarded the contract
- Does not qualify as a related party transaction
- Transaction is domestic in nature
Strategic Significance
The order strengthens the Company's position as a trusted cloud transformation partner and reinforces its capabilities in cloud migration and managed services on AWS.