HCL inks pact with Lippo Group to provide IT services

IT firm HCL Technologies today entered into a partnership with the Indonesia-based Lippo Group to offer IT outsourcing in that country.

PT Multipolar Technology, the subsidiary of  the Lippo Group, has signed a memorandum of understanding with the Indian IT firm, HCL Tech said in a filing to the Bombay Stock Exchange.

Multipolar Technology targets to secure IT outsourcing projects in banking, telecom and other sectors this year.

"We hope this partnership will enhance Indonesia's development in the world of technology and infrastructure, strengthen the country's competitive edge and enhance the economic cooperations between India and Indonesia," Lippo Group President Theo L Sambuaga said.

Besides, the company has also entered into a strategic partnership with Tonge for $3 million (about Rs 13 crore) to provide IT platform.

As a part of strategic transformation initiatives in the Business Services Division, HCL has been pursuing partnership with platform providers to help increase the company's market shares in platform-based services focused on large strategic customers.

This strategy is now being expanded to the Telecom billion solution area.

Shares of HCL Technologies were trading at Rs 504 on the BSE, down 1.02 per cent from the previous close.