HCL Tech acquires Volvo Group’s external IT business

New Delhi, Feb 16 (IANS) Software services provider HCL Technologies (HCL) said on Tuesday that it has acquired the external IT business of commercial vehicles manufacturers, Volvo Group.

“HCL has also acquired Volvo’s external IT business, adding 40 new customers from the Nordics and France to its portfolio, further enhancing its market leading position in these regions,” the company said in a statement but did not disclose the value of the deal.

HCL has also signed an IT outsourcing deal with the Volvo Group.

“We welcome over 40 new Volvo IT customers to the HCL client base. This addition enables HCL to achieve an even stronger presence in the Nordics and the wider European region, and accelerates our journey in these markets,” said HCL president and CEO Anant Gupta.

Around 2,500 people working for the Volvo Group will transfer to HCL across 11 countries.

“Combining the strengths of HCL with those of the transferred parts of Volvo IT will result in an organisation with formidable capabilities and an intimate understanding of Volvo Group needs and opportunities,” said Volvo Group’s chief information officer and Volvo I president Olle Högblom.

Volvo IT customers will now have the advantage of access to a broad range of differentiated global capabilities, tools and processes that integrate with technology environments at a global level, the statement added.

The tieup will help HCL in creating an automotive centre of excellence in Gothenburg based on the domain expertise of the Volvo team, to serve HCL’s global automotive and manufacturing customers.

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