HCLTech, the country’s fourth largest software exporter, announced on Thursday that it has secured a multibillion-dollar deal for managed network services (MNS) from Verizon Business in the United States. “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,” the IT company stated in an exchange filing.
According to a joint release, HCLTech will be Verizon Business’ key collaborator in all global MNS deployments for enterprise customers. Verizon Business will be in charge of sales, solutions, and customer acquisitions, while HCLTech will be in charge of post-sale implementations and continuing 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 firms announced.
The partnership will also provide customers with a best-in-class managed network services portfolio, a highly digitized 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, according to the companies.
HCLTech MD and CEO C Vijayakumar stated that his IT firm was honored to work with Verizon Business to lead MNS in all network deployments, modernization, 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 shorter time to market,” he said.
On Thursday, HCLTech shares fell about a percentage point to Rs 1134.60 on the BSE.