India’s HCLTech wins $1.14 billion deal with European firm
Employees of HCLTech walk inside the office premises on the outskirts of Lucknow, India, March 20, 2024. REUTERS/Pawan Kumar
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BENGALURU, July 3 : India’s HCLTech has won a $1.14 billion deal with a major European firm, the software services exporter said on Friday.
HCLTech’s shares opened 4.6 per cent higher on Friday after the announcement, boosting gains on the Nifty IT index, which was up 2.5 per cent.
Here are some details:
• The deal will help HCLTech establish an AI-driven operating model to transform and manage the client’s global digital workplace and enterprise networks, the company said.
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• The deal will last for four-and-a-half years, and is extendable by another five years, it added, without providing further details about the European firm.
• This is entirely new business for the company, HCLTech said, and not from an existing client or a deal renewal.
• HCLTech, which will report its results for the first quarter of fiscal 2027 on July 13, has forecast revenue growth of 1 per cent-4 per cent for the year.
Source: Reuters
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