HCLTech

Last updated

HCLTech
FormerlyHindustan Computers Private Limited
Company type Public
ISIN INE860A01027
Industry Information technology
Consulting
Outsourcing
Founded11 August 1976;47 years ago (1976-08-11) [1]
Founder Shiv Nadar
Headquarters
Noida, Uttar Pradesh
,
India
Area served
Worldwide
Key people
Products
Services Software [4]
RevenueIncrease2.svg₹111,408 crore (US$14 billion) [5]  (2024)
Increase2.svg₹20,967 crore (US$2.6 billion) [5]  (2024)
Increase2.svg₹16,565 crore (US$2.1 billion) [5]  (2024)
Total assets Increase2.svg₹99,777 crore (US$12 billion) [5]  (2024)
Total equity Increase2.svg₹68,271 crore (US$8.5 billion) [5]  (2024)
OwnerShiv Nadar (60.77%)
Number of employees
227,481 (2024) [2]
Parent HCL Group
Website www.hcltech.com
Footnotes /references
[6]

HCL Technologies Limited, doing business as HCLTech (formerly Hindustan Computers Pvt. Limited), is an Indian multinational information technology (IT) consulting company headquartered in Noida. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 52 countries and over 225,944 employees. [7]

Contents

History

Formation and early years

In 1976, a group of eight engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers. [8] [9] Initially floated as Microcomp Limited, Nadar and his team (which also included Arjun Malhotra, Ajai Chowdhry, D.S. Puri, Yogesh Vaidya and Subhash Arora) started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed Hindustan Computers Limited (HCL). [10] The company originally was focused on hardware but, via HCL Technologies, software and services became a main focus. [11] [12]

HCL Technologies began as the R&D Division of HCL Enterprise, [13] a company which was a contributor to the development and growth of the IT and computer industry in India. HCL Enterprise developed an indigenous microcomputer in 1978, [14] and a networking OS and client-server architecture in 1983. [15] On 12 November 1991, HCL Technologies was spun off as a separate unit to provide software services. [16] Later subsidiaries included HCL Infosystems and HCL Healthcare.

On 12 November 1991, a company called HCL Overseas Limited was incorporated as a provider of technology development services. [17] It received the certificate of commencement of business on 10 February 1992 after which it began its operations. Two years later, in July 1994, the company name was changed to HCL Consulting Limited. [18] On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities." [17]

Between 1991 and 1999, the company expanded its software development capacities to US, European and APAC markets. [17]

IPO and subsequent expansion

HCL became Manchester United's digital technology partner in 2015. HCL Technologies Manchester United partnership.jpg
HCL became Manchester United's digital technology partner in 2015.

The company went public on 10 November 1999, with an issue of 142 crore (14.2 million) shares, valued at ₹4 each. [19] During 2000, the company set up an offshore development centre in Chennai, India, for KLA-Tencor Corporation. [19]

In 2002, it acquired Gulf Computers Inc. [19]

In February 2014, HCL launched HCL Healthcare. [20] HCL TalentCare is the fourth and latest venture of HCL Corporation. [21]

In July 2018, US-based Actian was acquired by HCL and Sumeru Equity Partners for $330 million. [22] [23]

In 2019, HCL Technologies acquired a select few products of IBM. HCL took the full ownership of research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica. [24] Furthermore, in 2021, the company reached $10 billion in revenue. [25]

In 2022, HCL Technologies rebranded as HCLTech. [26] [27]

Acquisitions and partnerships

Acquisitions

NumberAcquisition dateCompanyBusinessCountryReferences
120 February 2008Capital Stream Inc. Business process automation United States [28]
216 July 2008Liberata Financial Service Business process outsourcing United Kingdom [29]
325 August 2008Control Point Solutions, Inc. Telecommunications service United States [30]
415 December 2008 Axon Group Plc. SAP ConsultingUnited Kingdom [31]
516 July 2009UCS Group's Enterprise Solutions SAP Practice SAP South Africa [32]
61 April 2016Part of Volvo ITInformation technologySweden [33]
719 October 2015Concept to Silicon Systems (C2SiS) Semiconductors India [34]
829 October 2015PowerObjects CRM ConsultingUnited States [35]
92016Geometric LtdPLM & Engineering ServicesIndia [36] [37]
1017 January 2017Butler America AerospaceEngineering & DesignUnited States [38]
1125 April 2017Urban Fulfillment Services, LLCBusiness Process OutsourcingUnited States [39]
125 September 2017ETL Factory Limited (Datawave) Automation United Kingdom [40]
1327 June 2018H&D International GroupIT and engineering services providerGermany [41] [42]
149 September 2019Sankalp SemiconductorTechnology design services firmIndia [43]
1514 January 2022 Starschema Data services companyHungary/United States [44]
169 May 2022Confinale AGdigital banking and wealth management consulting specialistZug Switzerland [45]
1713 July 2023ASAP Groupautomotive engineering services providerINGOLSTADT, Germany

Joint ventures

In October 2017, IBM struck a "strategic partnership" with HCL that had the latter firm take over development of the IBM Lotus Software's Notes, Domino, Sametime and Verse collaboration tools. [46]

Operations

A world-map showing the countries where HCLTech has operations. HCLTech Areas Served.png
A world-map showing the countries where HCLTech has operations.

HCLTech operates in 52 countries, [47] including its headquarters in Noida, India. It has establishments in Australia, China, Hong Kong, India, Indonesia, Israel, Japan, Malaysia, New Zealand, Saudi Arabia, Singapore, South Africa, the United Arab Emirates, Qatar and Morocco. In Europe it covers Belgium, Bulgaria, Czech Republic, Denmark, Estonia and Romania [48] Finland, France, Germany, Italy, Lithuania, Netherlands, Norway, Poland, Sweden, Switzerland, Portugal, and United Kingdom. In the Americas, the company has offices in Brazil, Canada, Mexico, Puerto Rico, Guatemala, and United States.

Cary, North Carolina is the base for the American operation and as the Cary Global Delivery Center. [49]

Old logo of the company which was used until 2022 HCL Technologies logo.svg
Old logo of the company which was used until 2022

Infrastructure Services Division

A subsidiary of HCLTech, HCL Infrastructure Services Division (ISD) is an IT services company. Headquartered in Delhi, NCR, India, HCL ISD was instituted in 1993 with the objective to address the demand for cost-effective management of technology infrastructure across geographically dispersed locations. HCL ISD, also known as HCL Comnet Systems and Services Ltd. in India, diversified ito provide enterprise IT infrastructure globally in 1993 winning the first order to establish India's first floorless stock exchange [50] [51] [52]

United Kingdom and Ireland

On 7 September 2005, HCLTech expanded its operations base in County Armagh and Belfast in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, the then UK Prime Minister Tony Blair announced the expansion, which was aimed at creating more IT and BPO jobs in the area. HCL acquired the Armagh-based AnswerCall Direct earlier in 2005. [53] HCL BPO services in Ireland are carried out through its main delivery centres in Armagh and Belfast. [54] In November 2011, after HCL revealed an expansion plan in County Kilkenny in Ireland, its Business Process Outsourcing (BPO) division in Northern Ireland won a contract for back-office services from the Department of Health. It was aimed at increasing the number of jobs and other employment opportunities in the region. [55]

Sri Lanka

HCL announced on 16 June 2020 that it had commenced operations in Sri Lanka. [56] The company plans to create 2,000 jobs in the country within the first 18 months of operations. [57]

HCL Infosystems

HCL Enterprise's subsidiary, HCL Infosystems, [58] was formed in 1976 to produce calculators. [59]

See also

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References

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  2. 1 2 "Fast Facts". HCL Technologies. 1 February 2014. Archived from the original on 14 February 2014. Retrieved 1 February 2014.
  3. ↑ "HCL Tech CEO Anant Gupta quits, C Vijayakumar to succeed – The Economic Times". The Economic Times. 21 October 2016. Archived from the original on 23 October 2016.
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  5. 1 2 3 4 5 "Financial Results FY24 Q4" (PDF). bseindia.com. Retrieved 26 April 2024.
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  8. ↑ Linda A. Hill; Kent Lineback (2014). Be a Great Boss: The Hill Collection. ISBN   978-1625277824. A classic startup founded in1976 in an Indian garage by Shiv Nadar, HCL Enterprise flourished in the 1980s – "a golden period" for the company.
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  11. ↑ Linda A. Hill; Greg Brandeau; Emily Truelove (2014). Collective Genius: The Art and Practice of Leading Innovation. ISBN   978-1422187593. In spite of these changes, HCL Enterprise entered the 1990s determined to retain its focus on hardware.
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  18. ↑ "Company History – HCL Technologies Ltd". The Economic Times. Archived from the original on 14 April 2016. Retrieved 28 August 2015.
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  35. ↑ "HCL Technologies Acquires CRM Services Provider PowerObjects | HCL Technologies". www.hcltech.com. Archived from the original on 11 July 2016. Retrieved 22 July 2016.
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  40. ↑ Agarwal, Surabhi (6 September 2017). "HCL acquires UK-based data management platform Datawave". The Economic Times. Archived from the original on 18 September 2017. Retrieved 15 September 2017.
  41. ↑ "HCL signs pact to acquire IT firm H&D Group to expand presence in Germany". Business Standard India. Press Trust of India. 27 June 2018. Retrieved 27 June 2018.
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  43. ↑ Agarwal, Surabhi (9 September 2019). "HCL Tech acquires Sankalp Semiconductor for Rs 180 crore". The Economic Times. Retrieved 19 March 2020.
  44. ↑ "HCL Technologies acquires Hungary's Starschema for $42.5 million". The Economic Times. Retrieved 1 February 2022.
  45. ↑ "HCL Technologies Acquires FinTch Consultanct Confinale AG". Channel E2E. 9 May 2022. Retrieved 19 May 2022.
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  56. ↑ "HCL Technologies marks 500 workforce milestones during six months of operations in Sri Lanka". India Education Diary. 24 March 2021.
  57. ↑ "HCL Technologies starts operations in Sri Lanka, to create over 1,500 employment opportunities – ET Telecom". ETTelecom.com. Retrieved 11 July 2020.
  58. ↑ sometimes referred to by the name HCL Infosystem
  59. ↑ "Envisioning IT in Every Home". CIO India.
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