Yahoo Finance HCLTech Forges Ahead in Engineering Services to Global Communication Services Providers (CSPs) with Purchase of Communications Technology Group Assets from Hewlett Packard Enterprise (HPE)
HCLTech plans to expand its strategic partnership further with HPE
NEW YORK & NOIDA, India, May 23, 2024--(BUSINESS WIRE)--HCLTech (NSE: HCLTECH), a leading global technology company, today announced it will extend its leadership in the telecom services market with Hewlett Packard Enterprise (NYSE: HPE), carving out certain Communications Technology Group (CTG) assets to HCLTech. Through this arrangement, HCLTech will acquire industry-leading intellectual property(IP), Engineering and R&D talent and client relationships with top global Communication Service Providers (CSPs).
HCLTech will gain a portfolio of service offerings that includes industry-leading IP, solutions and systems integration around Business Support Systems (BSS), network applications, service cloudification and data intelligence. These capabilities will also complement HCLTech’s existing highly digitized services with artificial intelligence (AI), Internet of Things (IoT), and data-driven models; enhanced efficiency; frictionless integration; and an end-to-end partner ecosystem.
HPE will retain the part of its former CTG business focused on Operations Support Systems (OSS). The Telco Solutions group, which sits within HPE Aruba Networking, is a leader in OSS, orchestration and assurance -- as well as public 5G SDM and private 5G networking -- and will continue to deliver value for HPE's telco customers and partners.
This transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in 6 to 9 months.
"With this transaction and our planned strategic partnership with HPE, we are strengthening our telecom practice to address the rapidly expanding and transforming global telecom market," said C Vijayakumar, CEO and Managing Director of HCLTech. "With the incoming top engineering talent and industry-leading IP from the CTG group of HPE, we are adding significant capabilities and direct relationships with global CSPs that include 20 of the Top 30, accelerating our growth strategy in the global telecom industry. As we chart our course forward, we envision an even larger strategic partnership with HPE, paving the way for strong growth through innovation, joint integrated propositions and transformation services."
"At HPE, we continually refine and innovate our portfolio to meet the dynamic needs of our customers. HPE is pleased to have identified HCLTech as the right partner to support the ongoing transformation of global telecom, media and tech companies," said Antonio Neri, President and Chief Executive Officer of Hewlett Packard Enterprise. "In joining HCLTech, our Communications Technology Group will become part of a strong partner that understands and appreciates the significant heritage of our CTG business, its strategy and its potential for the future."
As part of this agreement, approximately 1,500 employees of CTG with telecom industry experience will transfer to HCLTech in various countries -- including Spain, Italy, India, Japan and China -- to service clients globally.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240523120391/en/
Contacts
Meenakshi Benjwal, Americas
meenakshi.benjwal@hcltech.com
Elka Ghudial, EMEA
elka.ghudial@hcltech.com
James Galvin, ANZ
james.galvin@hcltech.com
Siddhartha Bhatnagar, India
bhatnagars@hcltech.com
