HCLTech wins $2.1 billion deal from Verizon

IT services firm HCLTech on Thursday announced signing of a new mega deal with an estimated new total contract value of $2.1 billion with Verizon Business.
HCL Logo (Photo | hcltech.com)
HCL Logo (Photo | hcltech.com)

BENGALURU: IT services firm HCLTech on Thursday announced signing of a new mega deal with an estimated new total contract value of $2.1 billion with Verizon Business. It expects the deal to have a positive revenue impact over the next six years beginning in November 2023.

HCLTech will be Verizon Business’s primary collaborator in all deployments involving MNS globally for enterprise customers. Verizon Business will continue to lead customer acquisition, sales, solutioning, overall planning and development with its customers. HCLTech will lead post-sale implementation and ongoing support.

To execute the tightly coordinated balance of responsibilities at enterprise scale, a group of Verizon Business Global Customer Operations staff will transition to HCLTech, it said in a BSE filing. “HCLTech is a widely recognised industry leader for Managed Network Services, and with their IT service expertise and ongoing support of our enterprise networking deployments, Verizon Business can modernise our service delivery and heighten our focus on helping customers incorporate next-generation technology like 5G, SD-WAN and SASE into their operations and their own customer offerings,” said Kyle Malady, CEO, Verizon Business.

“IT/OT convergence is the future of data-centric business operations, and with the fast pace of digitalisation, customers need a well-coordinated delivery framework to realise that future,” he added. “Managed Network Services is core to our business, and we’re proud to collaborate with Verizon Business to lead MNS in all of their network deployments, modernisation and operations for private enterprise,” said C Vijayakumar, CEO and MD, HCLTech.

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