Krishna said that Tech Mahindra will add value to IBM's offerings. "Partnerships bring in true innovation, capabilities and expertise for our clients and the industry. It is about driving a smaller share of the bigger pie," he said.

Five strategic focus areas of the collaboration include 5G, automation, hybrid cloud, cybersecurity, and data & Artificial Intelligence (AI). "Tech Mahindra has redoubled its commitment to IBM and we will build a billion dollar ecosystem for each other, as we solve problems for our clients," said Gurnani.

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A few key initiatives underway include launch Tech Mahindra's Blue Marble, a digital transformation accelerator, on IBM cloud for telecommunications to drive 5G momentum; collaborate to grow cybersecurity business with IBM Cloud Pak for security; strengthen and expand portfolio through cloud based offerings; and co-create and co-innovate through innovation labs and centres of excellence.

These innovation centres will be designed to enable development of joint solutions to help clients accelerate their journey to Cloud and AI. Gurnani said that a technology innovation centre will come up in Bengaluru. "Such centres will eventually be set up in different parts of the world," he said, adding that both the companies will invest in building such centres.

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