HCL Technologies has signed $ 1.3 billion services agreement with Xerox to manage part of its shared services, including global administrative and support functions and other tech-enabled operations.
The contract would be for a period of seven years, said HCL Tech in a press release.
Xerox has been customer of HCL Tech since 2009 and the relationship started with product engineering and support services. “Leveraging HCL’s global scale and capabilities, Xerox will strategically evolve its shared services into process-first, technology-led digital operations,” said the company.
As part of the existing agreement, HCL manages Xerox’s mechanical, electrical and software engineering activities for printer and imaging product lines. Together, HCL and Xerox have delivered 215 US patents and have created R&D labs that are integrated with Xerox infrastructure and standards.
The agreement between HCL and Xerox will also see a group of Xerox employees being transferred to HCL, subject to compliance with European works council consultation and employment regulatory requirements. “The employees who are transferring to HCL will have an opportunity to be part of a leading global technology company,” said the company.
HCL Tech joins its peers such as Infosys, Wipro, TCS in securing large service deals. During the past two years, India’s largest IT services company TCS received four large deals totalling more than $5.5 billion; while Infosys said it won large deals worth nearly $2 billion in the second quarter of this fiscal. Wipro announced a near $1.5 billion deal spread over 10 years from US-based Alight Solutions.
“This expanded partnership is a testament to the strong Xerox-HCL relationship that has grown through multiple collaborations over the past 10 years,” said C Vijayakumar, president and chief executive officer, HCL Tech, adding that “Xerox will benefit from our global scale, best-in-class processes and investments in artificial intelligence, robotic process automation and transformation tools, and HCL will benefit from a long-term agreement to provide product support and administrative services to Xerox”.
The contract would be for a period of seven years, said HCL Tech in a press release.
Xerox has been customer of HCL Tech since 2009 and the relationship started with product engineering and support services. “Leveraging HCL’s global scale and capabilities, Xerox will strategically evolve its shared services into process-first, technology-led digital operations,” said the company.
As part of the existing agreement, HCL manages Xerox’s mechanical, electrical and software engineering activities for printer and imaging product lines. Together, HCL and Xerox have delivered 215 US patents and have created R&D labs that are integrated with Xerox infrastructure and standards.
The agreement between HCL and Xerox will also see a group of Xerox employees being transferred to HCL, subject to compliance with European works council consultation and employment regulatory requirements. “The employees who are transferring to HCL will have an opportunity to be part of a leading global technology company,” said the company.
HCL Tech joins its peers such as Infosys, Wipro, TCS in securing large service deals. During the past two years, India’s largest IT services company TCS received four large deals totalling more than $5.5 billion; while Infosys said it won large deals worth nearly $2 billion in the second quarter of this fiscal. Wipro announced a near $1.5 billion deal spread over 10 years from US-based Alight Solutions.
“This expanded partnership is a testament to the strong Xerox-HCL relationship that has grown through multiple collaborations over the past 10 years,” said C Vijayakumar, president and chief executive officer, HCL Tech, adding that “Xerox will benefit from our global scale, best-in-class processes and investments in artificial intelligence, robotic process automation and transformation tools, and HCL will benefit from a long-term agreement to provide product support and administrative services to Xerox”.
( Originally published on Mar 19, 2019 )
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