Indian IT services provider HCL Technologies has announced a new IT outsourcing deal with a Sweden-based Volvo Group and the acquisition of Volvo’s external IT business which is expected to help expand HLC’s footprint in the Nordics and France with an addition of 40 customers, it says.
Under the terms of the agreement signed between Volvo and HCL, around 2,500 people hired currently by the Volvo Group will be transferred to HCL. The deal is also said to be one of the first that uses the principles of ‘vested sourcing’. Additionally, the partnership specifies that HCL will deliver on a technology transformation for optimising Volvo Group’s infrastructure and application operations and help implement the technology such as cloud, automation, business intelligence and big data, it says.
HCL will also set up an automotive centre of excellence in Gothenburg which will serve its global automotive and manufacturing customers.
“We are excited to drive business transformation through IT for one of the world’s leading companies. We welcome our 40 new Volvo IT customers to the HCL client base. The addition enables HCL to achieve even stronger presence in the Nordics and the wider European region, and accelerates our journey in these markets. We are also pleased to have significantly enhanced our diverse workforce, with highly skilled industry professionals joining us from Volvo’s IT business. The Volvo Group employees and consultants will add great value for our customers with the skills and expertise that they bring. We are delighted to welcome them to our team. The deal perfectly embodies HCL’s ongoing mission to develop its business with an innovation-led mind set,” says Anant Gupta, President&CEO, HCL Technologies.