HCL snares $110 mn IT management contract

HCL Technologies today said it has signed a 110 million Singapore dollars (around Rs 366 crore) five-year deal to manage computerised network for the Singapore Exchange (SGX).

"This is our largest IT infrastructure management contract," HCL Technologies executive vice president for Asia Pacific & MEA Virender Aggrawal said.

The five-year contract is effective from February 2011, but HCL Technologies said earlier collaboration and work on building up the IT management system would see it receiving revenue from the October-December quarter.

"Our aim is to enable transformation of data centre and network operations at SGX to bring in enhanced efficiency and clear business benefits," said Kiran Bhagwanani, senior vice president and worldwide head of system integration sales at HCL.
    
Aggrawal said HCL would be adding 100 IT experts to support the contract operation in addition to its 700-men operation in Singapore.
    
"We have started adding 25 people per month to the operation," he said.
     
The HCL contract is part of SGX's 250 million Singapore dollar 'reach' initiative announced on June 3, 2010, which aims to create the world's fastest trading engine through a data centre offering co-location facilities and seamlessly connecting global financial communities to the Singapore bourse, SGX said.
    
HCL was selected from seven IT service companies, SGX executive vice president and chief information officer Bob Caisley said.