Deal update: HCL Tech

Deal update: HCL Tech

HCL Tech has entered into a five-year transformational IT Infrastructure management engagement with Texas-based Oncor, which operates the largest electric distribution and transmission system.

This deal will require HCL to invest in development of a worldwide utilities center, which will research and develop technologies to help transform the way energy is generated, marketed and delivered to customers around the world.

HCL Tech’s scope of work will cover end user computing for around 3,600 employees, data center and network services, business continuity and consulting services, and platform modernization projects.

The company has also entered into another five-year IT Infrastructure Management engagement with Energy Future Holdings (EFH), a Texas-based, privately-held energy company.

HCL Tech will be responsible for migration and consolidation of Data Center, Disaster Recovery & Continuity, Next Generation Network Infrastructure and Open Systems & Mainframe Modernization.

We are currently NEUTRAL on the stock.