HCL Tech To Buy Volvo Group’s External IT Business

HCL technology, 4th Largest software services giant has acquired Volvo group’s external IT business and signed a deal for 5 year outsourcing with Volvo. HCL Technology has closed it in  $1 billion-plus. HCL claims that the deal is one of the largest IT deals signed by any Indian IT company and definitely the largest in HCL’s history so far.

The acquisition, for which the companies signed a letter of intent in October, will add 40 new customers in the Nordic and France regions and 2,500 highly skilled employees from 11 countries to HCL’s portfolio. Volvo’s IT business is an important addition of HCL’s portfolio, as it brings in an annual billing of about USD 200 million. 

As part of this roadmap, HCL will also provide over 65,000 Volvo end-users with access to productivity and user enabled solutions like Microsoft Office 365. The relationship will enable HCL to create an automotive Centre of Excellence in Gothenburg, Sweden, based on the domain expertise of the Volvo team, to serve HCL’s global automotive and manufacturing customers.

Extra Info :
HCL Technology President and CEO : Anant Gupta 
Headquarter : Noida 

So lets discuss some questions about this article which can be asked in the upcoming exams :
1. HCL Technology belongs from which industry ?
2. HCL Technology has acquired external IT business of which company ?
3. Name the CEO and President of HCL Technology .

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