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Broadcom Inc. and HCL Technologies Announce a Global Preferred Services Partnership

Posted On: 2018-12-03 11:01:19

Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions and HCL Technologies (HCL), a leading global technology company today announced a global preferred services partnership agreement.

Effective immediately, HCL becomes the preferred services partner for Broadcom's enterprise software products (part of former CA Technologies) and will provide professional services, education and training services. Broadcom customers will have access to HCL's technological expertise across consulting, implementation, upgrade and support services. In addition, the majority of Broadcom's professional services personnel with expertise including Agile, CyberSecurity, and DevOps will transition to HCL. Broadcom's Mainframe and US Public Sector professional services group will continue to operate as-is outside of this partnership agreement.

"This partnership represents an important building block as we grow our infrastructure software capabilities advanced by the acquisition of CA Technologies last month," said Hock Tan, President and Chief Executive Officer of Broadcom. "We believe our partnership, which spans more than a decade and HCL's strength in Digital and IT Infrastructure will help us jointly deliver the expertise needed to support our customer's mission-critical infrastructure software."

"This collaboration highlights our strong and growing relationship with Broadcom." said C Vijayakumar, President and CEO, HCL Technologies. "We will create a new Center of Excellence with dedicated focus on Broadcom enterprise software products to provide broad capabilities and solutions for a superior customer experience. This will also create another strong differentiating edge to our existing IT Services portfolio."

The partnership between HCL and Broadcom aligns to HCL's overall growth strategy for its high-momentum Mode 2 services in the Digital, Cloud and Cybersecurity space.

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.1014.4 as compared to the previous close of Rs. 1015.3. The total number of shares traded during the day was 34616 in over 971 trades.

The stock hit an intraday high of Rs. 1026 and intraday low of 1005.6. The net turnover during the day was Rs. 35221102.


Source: Equity Bulls

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