HCL Technologies

Infobox_Company
company_name = HCL Technologies
mother company = HCL, USD 4.7 Billion Group
company_type = Public
(BSE|532281; NSE: [http://www.nseindia.com/marketinfo/equities/cmquote_tab.jsp?key=HCLTECHEQN&symbol=HCLTECH&
] )
company_
foundation = 11 August 1976 [HCL Technologies was split-off from HCL, the parent company in late 1990s] | location = flagicon|IND Noida, UP, India
key_people = Shiv Nadar, Founder, Chairman, Chief Strategy Officer
Vineet Nayar - CEO
Ranjit Narasimhan - COO-President, BPO Division
industry = Information Technology Services | revenue = profitUSD 4.8 Billion
num_employees = 55,000 (2008)
homepage = [http://www.hcltech.com HCL Tech Website]

HCL Technologies (abbr. for Hindustan Computers Limited) is India’s 4th largest [ [http://www.iht.com/articles/2007/09/03/bloomberg/sxview04.php How Indian companies can adapt to a rising rupee] "International Herald Tribune", September 3, 2007 ] leading global IT Services companies, providing software-led IT solutions, remote infrastructure management services and BPO. Having made a foray into the global IT landscape in 1999 after its IPO, HCL Technologies focuses on Transformational Outsourcing, working with clients in areas that impact and re-define the core of their business. The company leverages an extensive global offshore infrastructure and its global network of offices in 17 countries to deliver solutions across select verticals including Financial Services, Retail & Consumer, Life Sciences (Clinical Research services in CDM and Biostatistics) & Healthcare, Aerospace, Automotive, Semiconductors, Telecom and ME (Media & Entertainment). For the fiscal year ending June 30, 2007, HCL Technologies, along with its subsidiaries recorded revenues of US $ 1.7 Billion and employed 52,000 professionals [ [http://www.hcl.in/attachment/Q4FY07.pdf IR-Quarter 4.cdr ] ] .

ervices

HCL Infrastructure Services Division (also known as HCL Comnet), specializes in remote IT infrastructure management services. HCL BPO Services provides a comprehensive range of Voice/Web based contact and front office services. It represents HCL Technologies’ most significant strategic business extension and investment to date. HCL BPO Services currently operates out of various locations in India, Malaysia and Northern Ireland.

HCL has its offices across the world with the major development centers in Chennai, Noida and Bangalore.

HCL Acquisitions and JVs

HCL Technologies has always encouraged use of inorganic growth strategies, a trait passed onto it from the parent company - HCL. Shortly after the setting up of HCL Technologies to address the engineering services and outsourced R&D market, HCL created a JV with James Martin in April 1996 to address the Y2K opportunity with HCL holding 60% of the equity. [cite web|url=http://findarticles.com/p/articles/mi_m0EIN/is_1996_April_3/ai_18151100|publisher=Business Wire|title=James Martin & Co., HCL Form New Joint Venture To Provide Premier Systems Redevelopment, Year 2000 Solutions|date=1996-04-03|accessdate=2008-04-04] HCL Technologies in March 1999 bought the remaining 40% stake because of the change in James Martin's policy on not using its brand name in any joint venture. [cite web|url=http://findarticles.com/p/articles/mi_m0CGN/is_/ai_54057312/ai_18151100|publisher=Computergram International|title=HCL to Buy Out James Martin Stake in Joint Venture|date=1999-03-08|accessdate=2008-04-04] HCL renamed the entity Intellicent. [cite web|url=http://www.indianexpress.com/res/web/pIe/ie/daily/19990922/ibu22024.html|title=HCL listing in New York only after domestic IPO |date=1999-09-22|accessdate=2008-04-04]

In Septermber 2001, HCL Technologies acquired 51% stake in Deutsche Bank's India software operation - Deutsche Software Limited (DSL) in an unspecified all-cash transaction. The deal included the 450 employees in the Bangalore operation and HCL had provision to acquire the remaining 49% over the next three years. [cite web|url=http://www.ciol.com/content/news/repts/101092609.asp|publisher=CIOL|title=HCL Tech acquires 51 % in Deutsche Software|date=2001-09-26|accessdate=2008-04-04] Towards the end of the year, HCL consolidated its entry into BPO services by acquiring 90% of Apollo Contact Center from British Telecom for US$0.5 million. The remaining 10% of the company was acquired for US$1.8 million in 2004. The acquisition provided HCL with 350 employees in Belfast, Ireland in 2001 and the team grew to 1,600 by 2004. [cite web|url=http://www.ciol.com/content/news/2004/104122402.asp|publisher=CIOL|title=HCL Tech acquires Apollo contact center|date=2004-12-24|accessdate=2008-04-04]

Gulf Computers, a US-based UT services company focusing on ADM services was acquired in June 2002 for US$9.75 initial cash payment and earn-outs for three more years. [cite web|url=http://www.thehindubusinessline.com/2002/06/02/stories/2002060201310300.htm|publisher=The Hindu|title=HCL Tech buys Gulf Computers |date=2002-06-02|accessdate=2008-04-04]

HCL Technologies acquired Capitalstream, a US BFSI product company for US$40 million in February 2008. [cite web|url=http://www.hcltech.com/pdf/press-releases/2008/HCLT-acquires-capital-stream.pdf|publisher=HCL Press Release|title=HCL Technologies Acquires Capital Stream, Inc., a US based industryleader in lending automation solutions|date=2008-02-20|accessdate=2008-04-04] Capitalstream's FinanceCenter product is an addition to HCL's current product addressing the BFSI market - Penstock, the product that HCL launched in 2007. [cite web|url=http://www.hcltech.com/pdf/FIMA%20Press%20Release.pdf|publisher=HCL Press Release|title=HCL Technologies Announces Penstock Foundation Data Management Product for Capital Markets Businesses|date=2007-03-13|accessdate=2008-04-04]

HCL Technologies acquired Liberata Financial Services Ltd. on 2nd Sep 2008, Liberata confirmed the sale of Liberata Financial Services Ltd. (LFS) to HCL for an undisclosed sum, following approval for change of control from the Financial Services Authority. [(>cite web|url=http://www.liberata.com/general.php?id_gen=66&id_news=35)]

Rewards & recognition

In 2006, HCL Technologies was ranked #1 among the "Best Performing IT Services Firms" in India while the company's Infrastructure Services Division was awarded the #2 rank worldwide. These rankings were awarded on the basis of a survey - Global Services 100 - conducted by Global Services magazine in association with NeoIT, an outsourcing advisory firm. (Source: http://www.globalservicesmedia.com/Content/general200705211097.asp )

In 2007, HCL Technologies was ranked by The Black Book of Outsourcing as the #1 Infrastructure Management Services Outsourcing vendor in the world, ahead of vendors such as IBM, Accenture and EDS. HCL was also mentioned as the only India based vendor in the Top 10 in these rankings.

HCL's innovative HR practices, including its famous "Employee First" policy, have been the subject of case studies by the Harvard Business School (August 2007) and the London Business School (Spring 2007). In its issue dated November 19, 2007, Business Week recently featured HCL in an article titled "The Employee is Always Right", which talks about HCL's "Employee First" policy. (Source: http://www.businessweek.com/magazine/content/07_47/b4059064.htm?campaign_id=rss_null )

Deal announcements

HCL Technologies has announced many deals in the last few years with global majors for IT services.

MT program

SMT Program is a management program in HCL Technologies that provides a fast track program with the philosophy of "‘Catching them young and setting their minds on fire’". The program was formally initiated by ex-HCL HR and BPO Head, Sujith Bakshi in 1985 based on success achieved with IIM graduates by HCL in 1970s. The managers from the SMT batches have been credited with various successes over the years including setting up of NIIT, various JVs and transnational divisions (Singapore - 1981). [cite web|url=http://economictimes.indiatimes.com/articleshow/458683923.cms|title=Faster, Stronger, Hire|publisher=The Economic Times|date=2001-10-30|accessdate=2007-07-10] The current CEO of HCL Technologies (software division) - Vineet Nayar is an SMT from the Batch of 1985.

References

External links

* [http://www.rediff.com/money/2001/aug/09nadar.htm Rediff Coverage - 2001]
* [http://www.rediff.com/money/2007/jun/09bspec1.htm Story of HCL]
* [http://www.businessworld.in/content/view/871/926 Shiv & HCLT]
* [http://www.moneycontrol.com/india/news/management/shivnadarhcl/thedarkhorsetechnologysector/market/stocks/article/279967 Moneycontrol Article on Shiv Nadar and HCLT]
* [http://www.indiatodaygroup.com/btoday/20031026/features2.html HCL - Company in Transition]