HCL Technologies, HANCOM Inc. Announce Strategic Partnership to Advance Technology Solutions
Companies to collaborate for better service in Southeast Asian markets; HCL to support HANCOM’s R&D center in India
SEOUL, SOUTH KOREA and NOIDA, INDIA, Sept. 14, 2021 – HCL Technologies (HCL), a leading global technology company and HANCOM Inc., one of the leading South Korean software companies, have signed a strategic partnership to share advanced software technology solutions and establish a mutual bridgehead for overseas expansion.
HCL will support training for software development at HANCOM’s R&D center in India, which was established in 2016. HCL will also share its development studio and provide HR support to meet demand and development capacity at the R&D center. In addition, it will promote technological cooperation to strengthen HANCOM products’ global competitiveness.
The two companies also plan to cooperate on global market expansion. This includes HANCOM’s entry into Southeast Asian countries such as Taiwan, Vietnam and Bangladesh, Middle Eastern countries, and HCL’s business expansion into the South Korean market.
HCL Technologies empowers global enterprises with technology for the next decade. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals and works with leading partners. It currently employs more than 175,000 people in 50 countries and generates annual sales of $10.5 billion.
“South Korea is a key strategic market for HCL, and this engagement with HANCOM will further help us grow and establish ourselves in the region,” said Sanjay Gupta, Corporate Vice President, HCL Technologies. “We thank HANCOM for their trust in us for this collaboration, and we look forward to leveraging HCL’s next-gen technological skills and HANCOM’s strong presence in the region to mutually support each other.”
“We are thrilled HCL chose HANCOM as its strategic partner for the Korean market,” said Daeki Kim, Chief Operating Officer, HANCOM. “HCL’s modern applications and architecture principles will allow us to scale our products to make them more suitable for enterprise customers in the global market and ultimately achieve global aspirations with our products. HANCOM will continue to support HCL in its endeavor to scale its growth in the South Korean market.”
About HCL Technologies
HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL’s Mode 1-2-3 strategy, based on its deep-domain industry expertise, client-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 the areas of applications, infrastructure, digital process operations and next-generation digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. P&P 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, including Financial Services, Manufacturing, Technology and Services, Telecom and Media, Retail and CPG, Life Sciences and Healthcare, and Public Services.
As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability, and education initiatives. For the 12 months ended June 30, 2021, HCL had consolidated revenue of $10.54 billion. Its more than 175,000 Ideapreneurs operate out of 50 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:
Meenakshi Benjwal, Americas
Dipshikha Bhattacharyya, EMEA
Devneeta Pahuja, India and APAC