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HCL on verge of bagging mega deal

HCL Technologies is close to finalising a multi- million dollar and multi-year services deal with a western insurance major.

india Updated: Feb 08, 2006 15:52 IST

India's fifth largest software exporter HCL Technologies is close to finalising a multi- million dollar and multi-year services deal with a western insurance major.

Refusing to divulge further details on the size, name and timing of the deal, HCLT's chief marketing officer Saurabh Adhikari said: "It is a big deal covering all parts of HCLT's offerings -- technology, applications, remote infrastructure and BPO... We should be able to announce it in not too distant future.

"The prepartions for the deal like recruitment, training and operationalisation has already begun and the impact of the deal (in terms of revenue) would be felt in the next two quarters."

In fact, in principle the deal has been signed but a few ratifications are in the process of taking place, he said.

Usually, a multi-year deal spreads over 5-10 years.

HCLT's proposed insurance deal would encompass the entire spectrum of services offered by the IT and BPO service providers, which include technology services, IT Infrastructure, application management and Business Process Outsourcing.

In this quarter, HCLT had stated it would announce two mega deals and the first one was the a five-year deal worth $330 million with DSG International. This deal is the largest IT outsourcing contract given to an Indian IT company.

Before that, it had signed another deal was with a Fortune 1,000 logistics company and also bagged a $50-100 million multi-year contract from Autodesk to provide offshore application and data centre services to the American company. The billing for the contract begins in February next year and runs through February 2011.

First Published: Feb 08, 2006 15:52 IST