Dynacons Systems wins Rs101 crore order from Bank of Baroda; Stock spurts ~2%

3 Mar 2022 , 02:22 PM

Dynacons Systems & Solutions Ltd has won one of the largest order from Bank of Baroda for set-up of Software Defined Wide Area Network (SD-WAN) for 6000 branches with order value worth Rs101 crore.

Bank of Baroda is one of the largest Public Sector Bank (PSU) in India with a branch network of over 8500+ branches/offices in India and 100+ branches/offices overseas. The Bank is intending to implement SD-WAN solution initially in its 6000 Domestic branches/ offices spread across the country.

SD-WAN is a transformative technology that simplifies the IT infrastructure control and management by delivering a virtual WAN architecture that securely connects users to their applications. The advantages of SD-WAN are simplified branch office connectivity, increased reliability, optimized application performance, and increased network agility.

SD-WAN lowers total costs, by providing more resource usage and a more automated branch and WAN architecture that is required to fulfill modern IT business initiatives.

This solution will help the bank to reduce overhead costs & increase the WAN performance. The primary benefits of implementation of SD-WAN technology are:

• Single dashboard for managing connectivity across the WAN
• Improved performance of WAN
• Advanced Integrated Security
• Lowers Complexity
• Enables Cloud Usage
• Better connectivity
• Reduces Cost

The offered SD-WAN Solution includes Data Centre and Disaster Recovery Central Appliance with High Availability, DC/DR SD-WAN Central Software with Advance SD-WAN & Advance Security Feature for 10000 branches support, Branch SD-WAN Appliances with advance security features. It also includes supply, installation, implementation & support with onsite deployment of technical Experts at DC, DR, NDR & branches across PAN India. The contract period is initially for Five years.

Commenting on the development, Shirish M. Anjaria, Chairman cum Managing Director of the Company said, “We are constantly working to solve issues using ICT and to advance digital transformation in enterprises. Our experience in set-up and execution large scale PAN India SDWAN projects has helped us win this contract. With these enhancements, we are committed to continuing to provide secure, reliable and optimized network solutions.”

At around 2:24 PM, Dynacons Systems & Solutions was trading at Rs235.85 apiece up by Rs3.95 or 1.7% on the BSE.