Shares of Sonata Software gained nearly 3 percent in trade on Tuesday after the mid-sized IT firm said that it will build a digital hub for Germany-based travel services firm TUI Group in India.
The collaboration aims to build cutting-edge digital solutions that will boost customer experience and operational efficiencies, Sonata Software said in a filing to the stock exchanges.
"The digital hub will empower us to tap into a vast pool of talent and develop cutting-edge digital solutions, propelling us towards sustained growth and delivering unparalleled travel experiences to our customers," Marc Jennings, CIO of Analytics & Customer, TUI Group said.
TUI Group, a leading global tourism firm that operates worldwide, offers integrated services to 21 million customers, while Sonata Software is a leading global technology company.
Earlier this month, Sonata Software announced a partnership with SAP Commerce in a bid to boost digital innovation and help accelerate businesses.
In an interview with CNBC-TV18 earlier this month, Anthony Lange, the Global Partner Officer at Sonata Software, said that the company has set its sights on a target of reaching $500 million in revenue from its international IT services business by the fiscal year 2026.
Lange said that the firm has not experienced any slowdown in its large deals and is witnessing a surge in data and artificial intelligence (AI) related engagements.
In the March quarter, Sonata Software posted a 10.65 percent increase in consolidated net profit to Rs 35 crore compared to Rs 31.63 crore in the same period last year.
Shares of Sonata Software are trading 0.6 percent higher at Rs 1,000. The stock has risen by nearly 73 percent on a year-to-date basis.
