Indian IT company HCL Technologies announced Tuesday that it has signed a managed services agreement with Xerox worth USD 1.3 billion over multiple years. “This seven-year agreement for an incremental USD 1.3 billion continues to build on the success of the Xerox-HCL relationship, which began in 2009 with product engineering and support services,” HCL Tech said in a statement.
HCL Tech will manage portions of Xerox’s shared services, including global administrative and support functions, including selected information technology and finance functions (excluding accounting), it added. The IT firm currently manages aspects of Xerox’s mechanical, electrical and software engineering activities for printer and imaging product lines. Together, the two companies have delivered 215 US patents and have created research and development (R&D) labs that are tightly integrated.―Millennium Post