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HCL Tech signs multi-year contract with ABB Power

Capital Market 

The IT company on Tuesday announced a multi-year contract with Hitachi ABB Power Grids to build a new greenfield digital foundation as part of a global transformation program.

Through this engagement, HCL will help Hitachi ABB Power Grids in establishing a new, efficient and modern independent IT organization. The engagement will support its continued business transformation by reducing dependency on the historic ABB IT services infrastructure.

As part of the new digital foundation, HCL will provide hybrid cloud services, digital workplace services, next-gen network services, unified service management and cybersecurity services. Leveraging HCL's Cloud Smart offerings, Hitachi ABB Power Grids will benefit from an adaptive portfolio with innovative cloud services driven by intelligent automation and a powerful partner ecosystem.

HCL will establish strategic digital platforms, global standardization of IT services and futureproof solutions to keep pace with changing business requirements and evolving technology capabilities.

Shares of HCL Technologies were up 0.07% at Rs 908 on BSE.

HCL Technologies offers its services and products through three business units - IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).

HCL Technologies reported 25.6% drop in consolidated net profit to Rs 2,962 crore on 1.8% rise in revenues to Rs 19,642 crore in Q4 FY21 over Q3 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, May 04 2021. 13:46 IST
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