HCL Technologies to enter Sri Lanka in a strategic investment

PUBLISHED DATE: Feb 03, 2020

Colombo, Sri Lanka and Noida, India -- February 03, 2020: Signing an agreement with the Board of Investment (BOI) of Sri Lanka, HCL Technologies (HCL), a leader in global technology announced the establishment of its global delivery center in Colombo. Marking its presence within the region, HCL aims at boosting employment, providing resources and skilling the local talent to serve its global clients.

Founded in 1976, HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age. A true multinational, HCL is headquartered in India with significant global presence across various key industries and sectors.

A key part of HCL’s business and development strategy in Sri Lanka will be to generate local employment and provide the right skilling programs that will augment the growth of the knowledge services industry in the island. Collaborating with the BOI of Sri Lanka, HCL’s local entity – HCL Technologies Lanka (Private) Limited will implement its Work Integrated Education Program to foster growth by actively cooperating with local ICT and engineering institutions to develop and train the island’s talent pool. Through this delivery center in Colombo global clients will be provided with valuable services in the areas comprising of Applications & System Integration Services, Infrastructure Services and Digital Process Operations.

“It is a landmark moment for us as we begin our operations in the beautiful country of Sri Lanka. We are very happy with the progressive policies this country has and thus, we are fully prepared and committed to bring in new opportunities for the local workforce and creating ever-lasting partnerships within the region. Our valuable partnership with the BOI will help us showcase the true essence of our culture of ‘Relationship Beyond the Contract’. By imbibing our ideapreneurship™ culture we will be aiming to provide best-in-class support to the global clients with the help of local talent pool.” said Corporate Vice President of HCL Technologies, Srimathi Shivashankar.

Director General of the Board of Investment (BOI) of Sri Lanka, Champika Malalgoda said: “We are pleased to partner with HCL Technologies – one of the world’s leading technology companies to take forward our development vision for Sri Lanka. Sri Lanka has built a reputation for hardworking, dedicated and talented IT professionals who have delivered innovative and futuristic IT solutions to the world. We are one of the best destinations for providing off-shore services for Information Technology Enabled Service (ITEs) as well as services related to Finance and Accounting, Legal, Insurance, Banking and Telecommunications. HCL Technologies has the resources that will enhance and empower our local IT talent to achieve the national goals set out for the sector. We are delighted with this opportunity and look forward to a longstanding partnership.”

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 December 31, 2019, HCL has a consolidated revenue of US$ 9.7 billion and its 149,000 ideapreneurs operate out of 45 countries. For more information, visit www.hcltech.com

Forward–looking Statements

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:

HCL Technologies

Anne Coyle, US
Anne.coyle@hcl.com

Elka Ghudial, Europe
elka.Ghudial@hcl.com

Devneeta Pahuja, India and APAC
Devneeta.p@hcl.com

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