HCL Technologies Announces Intent to Acquire Cisco’s SON Technology
Noida, India – May 29, 2020 -- HCL Technologies, (HCL), a leading global technology company, today announced its intent to acquire Cisco’s (NASDAQ: CSCO) Self-Optimizing Network (SON) technology. This acquisition, which comprises of products and services built on Cisco’s SON technology, will help HCL meet the growing needs of its customers in the telecommunications industry, which includes tier-one communications service providers globally, by adding the power of Cisco’s SON’s multi-vendor multi-technology and application support to its clients.
The Cisco SON technology is a powerful platform that uses machine learning and a set of applications to automate the Radio Access Network (RAN). It helps customers boost performance, harmonize the multiple technologies that comprise a RAN, and maximize the capabilities of existing infrastructures, resulting in reduced capital and operational expenditures. As part of the deal, some employees who work on Cisco’s SON technology will move from Cisco to HCL.
“HCL’s decision to make this acquisition comes in line with our Mode 3 strategy. As we expand our footprint in this space and support the mobility needs of our customers; the SON products and services will now be included in our telecommunications offerings. This will gain further importance with 5G networks,” said Sukamal Banerjee, Corporate Vice President, HCL Technologies. “We are proud to lead the next phase of the Cisco SON business journey, especially regarding 5G, and look forward to supporting new and existing customers with continued innovation. We also want to extend a warm welcome to the Cisco SON team members joining HCL.”
About HCL Technologies
HCL Technologies (HCL) empowers global enterprises with technology for the next decade today. HCL’s Mode 1-2-3 strategy, through its deep-domain industry expertise, customer-centricity and entrepreneurial culture of ideapreneurship™ enables businesses to transform into next-gen enterprises.
HCL offers its services and products through three business units - IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in areas of Applications, Infrastructure, Digital Process Operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. Under P&P, HCL provides modernized software products to global clients for their technology and industry-specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized under Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services.
As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability and education initiatives. As of 12 months ended March 31, 2020, HCL has a consolidated revenue of US$ 9.94 billion and its 150,423 ideapreneurs operate out of 46 countries. For more information, visit www.hcltech.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For further details, please contact:
Anne Coyle, US
Elka Ghudial, Europe
Devneeta Pahuja, India and APAC