HCL Tech bags $70 mn deal from Teradyne

HCL Technologies has won a $70 million, five-year contract with Teradyne, a leading supplier of automatic test equipment.

"We have won a $70 million, five-year deal from Teradyne of which $25 million would be billed in the first year. The minimum order size is $70 million, and it can be much larger," Vineet Nayyar, president of HCL Technologies, said.

HCL Tech will takeover the entire IT organisation of Teradyne including its employees. The deal involves consulting, data centre consolidation and IT applications.