Mastek and CORT Win ISG Partnership Award; Shares Fall 2.02%

Mumbai, October 12: Mastek Limited and CORT Business Services have won the 2026 ISG Paragon Partnership of the Year award for North America, recognising a collaboration spanning more than a decade in digital commerce, technology modernisation and business transformation.

The award recognises the companies’ work to modernise CORT’s digital and technology operations across business-to-consumer, business-to-business and international markets. According to the announcement, the partnership has expanded from application modernisation and digital commerce into digital engineering, platform modernisation, AI-led transformation and managed services.

One of the more recent initiatives was the launch of CORT Furniture Outlet, an online platform designed to help customers find and purchase quality used furniture at discounted prices, both online and in-store. Mastek said the platform recorded a 37% increase in online conversion rates, a 69% rise in overall online purchase volume and a 30% increase in organic traffic within two weeks of launch.

The companies said their next phase of work will focus on integrating artificial intelligence across customer journeys, digital commerce, engineering and operations. The roadmap also includes greater automation and the development of outcome-based services, including a potential shift towards a “Services as Software” model.

Stock Market Snapshot

The Mastek share price stood at ₹1,646.00 as of 2:30:37 PM IST on October 12, 2026, according to the market data.

The stock was down ₹33.90, or 2.02%, at the time. Shares had traded around ₹1,660 during parts of the session before moving lower, with the price remaining below that level in the afternoon.

The award announcement and the share price movement occurred on the same day. However, the available information does not establish a direct link between the recognition and the stock’s decline.

AI-Led Transformation Becomes the Next Focus

Mastek and CORT said their relationship has evolved alongside changing customer expectations, moving beyond technology upgrades towards business outcomes such as improved customer experience, more efficient operations and faster decision-making.

The companies are now exploring ways to combine AI, automation and reusable digital capabilities to help businesses respond more quickly to market changes. The announcement also highlighted the role of managed services in supporting ongoing transformation rather than treating technology projects as one-time implementations.

The ISG Paragon Awards recognise technology and sourcing partnerships that deliver business and IT transformation. Mastek and CORT accepted the award at the ISG Paragon Awards North America 2026 ceremony on September 24, 2026.

Conclusion

The recognition highlights Mastek’s long-standing work with CORT and the partnership’s shift from digital commerce and technology modernisation towards AI-led business transformation. The companies intend to build on their existing work through automation, intelligent workflows and services tied more closely to business outcomes.

Mastek shares were trading at ₹1,646.00, down 2.02%, as of 2:30:37 PM IST on October 12, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/MASTEK/Mastek-Limited
• https://nsearchives.nseindia.com/corporate/MASTEK12_12102026123706_Pressrelease12102026sd.pdf