HCLTech, the fourth largest software exporter in the country, on Thursday informed that it had bagged a mega deal from US-based Verizon Business for managed network services (MNS). “We expect this deal to have a positive revenue impact over the next six years beginning in November 2023 with an estimated new total contract value of $ 2.1 billion over the term,” said the IT firm in an exchange filing.
HCLTech will be Verizon Business’ primary collaborator in all deployments involving MNS globally for enterprise customers, both companies said in a joint statement. Verizon Business will lead sales, solutions, and customer acquisitions, while HCLTech will lead post-sale implementations and ongoing support.
“To execute the tightly coordinated balance of responsibilities at enterprise scale, a select group of Verizon Business Global Customer Operations staff will transition to HCLTech,” the companies said.
They further said that the partnership will offer customers a best-in-class managed network services portfolio, a highly digitised experience with data-driven service models, enhanced efficiency and lifecycle management with a frictionless interface, a broad end-to-end partner ecosystem, and joint innovation on an integrated platform.
Commenting on the deal, Verizon Business CEO Kyle Malady said HCLTech is a widely recognized industry leader for managed network services. “And with their IT service expertise and ongoing support of our enterprise networking deployments, Verizon Business can modernize our service delivery and simultaneously heighten our focus on helping customers incorporate next-generation technology like 5G, SD-WAN and SASE into their operations and their own customer offerings.”
HCLTech MD and CEO C Vijayakumar said his IT firm was proud to collaborate with Verizon Business to lead MNS in all of their network deployments, modernisation, and operations for private enterprise. “Our data-driven service delivery, advanced network capabilities, and frictionless customer interfaces combined with the unique strengths and resiliency of the Verizon network will enable enterprises to drive better business outcomes and time to market,” he said.
Shares of HCLTech dropped nearly a percentage point to settle at Rs 1134.60 on BSE on Thursday.
