HCL Technologies in $70-million deal with US company
By Mumbai: | 13 Jul 2006
Mumbai: HCL Technologies Ltd has won a $70 million 5-year contract from US automated test equipment maker Teradyne Inc. Under the deal, HCL Technologies will manage the information infrastructure and software application related jobs of the Boston-based Teradyne Inc.
Teradyne is a leading supplier of automatic test equipment for broadband, electronic assembly, semiconductor and vehicle manufacturing and telematic solutions for transportation OEMs and independent service providers. In 2004, Teradyne had sales of $1.8 billion.
This is the fourth deal in which HCL is taking over the IT department of a company, said HCL President Vineet Nayar.
He said HCL would absorb almost all employees in Teradyne's information technology division. HCL also expects to scale up the contract to $125 million from the current 70 million.
HCL, one of the earliest IT start-ups in the country, is currently one of the leading global technology and IT enterprises with annual revenues of $ 3.30 billion. HCL comprises has two listed comprises two listed companies - HCL Technologies and HCL Infosystems.
The company offers R&D and technology services, enterprise and applications consulting, remote infrastructure management, BPO services, IT hardware, systems integration and distribution of technology and telecom products. HCL has a team of 34,000 professionals of diverse nationalities, operating across 16 countries, including 300 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including several IT and technology majors.