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Home > Equity Market > HCL Technologies Ltd.- Company History >

HCL Technologies Ltd.- Company History

Industry: Computers - Software
BSE Code :532281
NSE Code :HCLTECH
Business Group:HCL Group
LTP (Rs.)
ISIN No :INE860A01027
Face Value/M Lot :2.00/1
P/E Ratio : 20.21
Market Cap : 120936.30 Cr
The company history sections lists out major chronological events that happened to the company.
1991 - HCL Technologies Limited was originally incorporated on 12th November, as "HCL Overseas Limited". The certificate of commencement of business was received on 10th February, 1992. On July 14, 1994, the name of the Company was changed to "HCL Consulting Limited". The Company changed its name to "HCL Technologies Limited" on 6th October 1999 to better reflect the line of activities of the Company.

- HCL provides new technology development services to its clients.

1996

- The 50:50 joint venture with Perot Systems Corporation in the year, provided access to high value client base of Perot Systems.

- The Company has one of the largest software development infrastructures in India. This state-of-the-art infrastructure, which comprises seven software factories, is designed to take advantage of the high productivity and scalability as well as the relatively lower cost of software development in India.

1998

- The Company started addressing the markets in Europe and Asia Pacific.

- The company has a rich heritage in technologies like the Internet and e-Commerce, networking and internetworking, Internet telephony, telecom, embedded software, ASIC/VLSI design and testing, satellite communication, wireless communication and component based object technologies like COM, DCOM and CORBA.

- The Company has the capability to work with a wide variety of computing platforms ranging from Open Client Server systems comprising all flavors of UNIX, Microsoft platforms, AS/400 to enterprise servers like IBM Mainframes.

- The Company also offers strategic methodology consulting led services through its wholly owned subsidiary Intelicent Inc. to global organisations.

1999

- The company announced its public issue on November 10th, of Rs. 1,42,00,000 neq equity shares of Rs. 4/- each. The issue includes a Book Built Portion of 1,27,80,000 equity shares and Fixed Price Portion of 14,20,000 equity shares.

- The company announced on November 11 that it has signed a five-year contract with Gtech and Kla Tencor.

- HCL Technologies has created wholly-owned subsidiaries to cater to specific geographic regions. Its major subsidiary is HCL Technologies America, 100 per cent owned by the company.

2000

- The Company has set up a dedicated offshore development centre in Chennai for KLA-Tencor Corporation, a supplier of process control and yield management solutions for the semiconductor and related microelectronics industry.

- HCL Comnet, the wholly-owned subsidiary of HCL Technologies in association with its new partner Globeset Inc., is scouting for large Internet Service Providers and payment gateways in India to introduce Net security management solutions.

- The Company will set up an offshore development centre for the $2.1-billion semiconductor company, Conexant Inc, in India.

- HCL Comnet, a wholly owned subsidiary of HCL Technologies will invest Rs. 20 crore in the next one year to set up a network operation centre in Delhi and has tied up with Hewlett Packard.

- HCL Technologies, the Shiv Nada controlled software major, has invested in five venture capital funds that specialise in high technology, particularly internet technology, related areas.

- HCL Technologies, in a move to further strengthen its position in the infotech sector, has decided to extend its product base and focus on a range of high value-added products and services.

- HCL Infinet Ltd, the new Internet services subsidary of HCL Infosystems, has tied up with UBS Publishers' Distributors Ltd, one of the largest distributors of books in the country for its soon to be launched portal to sell books on-line.

- Armed with $300 million incash reserves, infotech company HCL Technologies is in the process of acquiring companies in both Europe and the US as part of its expansion drive.

- HCL Technologies has approved, subject to necessary approvals, to split each equity share of Rs 4 into two equity share of Rs 2 each.

- HCL Technologies has entered into a tie-up with BroadVision Inc, a provider of personalised e-business applications, to act as a distributor for the latter's customised software, services, support, maintenance and other related activities.

- Goldman Sachs has rated Infosys Technologies and HCL Technologies as market outperformers and amongst the best quality names in the industry.

- The Company launched the second Nokia professional centre in New Delhi, second among the chain of centres planned by the company across the country.

- HCL Technologies Ltd will be acquiring about 40 per cent equity stake in an Indian networking product company as part of its incubation programme.

- Shiv Nadar-promoted HCL Technologies Ltd is looking at the possibility of opening a software technology development centre in China.

2001

- The Company has signed a five-year strategic partner agreement, with NCR Corp. to develop customer relationship management, store automation and payment system.

- The Company signed an agreement with Toshiba Information Systems of Japan to set up an offshore development centre in India, for the Japanese company.

- HCL Technologies has entered into a strategic alliance with Nasdaq-listed Vitesse Semiconductor ot develop software solutions for global networking markets.

- The Company is setting up a dedicated offshore centre for Vitesse Semiconductor for design and application support services.

- HCL Comnet Systems & Services Ltd., a fully-owned subsidiary of HCL Technologies, is entering into the business of Web-enabling applications through the launch of demand-chain management solutions.

- HCL InfiNet has been rated the best among 16 Internet service providers by ZDNetIndia.com, a technology portal and magazine.

- HCL Technologies October 29 announced that it would pick up 100 per cent stake in Northern Ireland-based IT-enabled services company Apollo Contact Centre in two phases. In the first phase, HCL Technologies would pick up 90 per cent stake in Apollo Contact Centre for $11.5 million from British Telecom (BT), the owner of Apollo Contact Centre.Initially, HCL Technologies, would pay $11.5 million either directly or through any of its subsidiaries to acquire 90 per cent equity in Apollo Contact Centre.

- HCL Perot, a joint venture of HCL Technologies, which already has two levels of re-dundancy in Delhi and Bangalore, is now backing them up with centres in the UK and US. It is setting up a development centre in Woking, South of London and plans to add another in Dellas by the end of the year.

- HCL Technologies today announced the appointment of Anupam Puri, management consultant with McKinsey and Co, as member on its board of directors.

2002

- HCL Technologies Ltd on June 1, 2002 announced a 100% acquisition of Gulf Computers Inc, USA.

- HCL Technologies Ltd announced the formation of a strategic technology joint venture with Jones Apparel Group, Inc. Jones Apparel Group, Inc. a Fortune 500 Company, The joint venture is a pioneering initiative, in synergy with HCL Technologies rebalanced business portfolio and growth strategy, wherein the Company has identified the retail vertical as a high focus area. Worldwide, an increased surge in IT spending in the retail segment is manifesting itself and the market is expected to grow to USD 35 billion by 2005.

-HCL Technologies Ltd announced on August 16, 2002 that it has entered into a joint venture with m.a. partners - a management consulting firm - to address software services opportunities in Global Finance Markets, especially in the areas of Investment Banking, Asset Management and Private Banking. m.a. partners brings a wealth of domain expertise and clients including many of the top Global Investment Banking firms, to the JV.

-HCL Tech, leading global IT services company, on August 19, 2002 announced a strategic alliance with Sento Corporation, a US based customer contact solutions Company.

-HCL technologies Ltd has informed BSE that Mr Vineet Nayyar, Director has resigned as Director of the Company with effect from on December 19, 2002.

2003

-HCL Technologies Ltd has informed BSE that Mr Anupam Puri Director resigned from the Board wef May 08, 2003. The Board of Directors has been expanded with the induction of three new members- Mr Amal Ganguli, Mr Cyril Shroff & Mr Subroto Bhattacharya.

-Partners with Alayance, a USA based company, to enhance Enterprise Application Integration expertise

-Signs agreement with SuperH Inc., the leading supplier of multimedia reduced instruction set computing (RISC) central processing unit (CPU) cores, enabling the company to become the first member of the 'SuperH Design Agency' Program

-Members approve Scheme of Arrangement between the Company, HCL Infosystems Ltd, HCL Infinet Ltd

-Receives $160 ml BPO deal from BT Group, UK's telecom service provider

-Inks pact with Questa Corp. to provide implementation support for customer projects

-Wins mandate from Airbus Industries for the development of embedded software for the system data acquisition computer of the A-340 flight warning system

-HCL Comnet, a wholly- owned flagship of HCL Technologies, secures Rs 31 crore network management order from National Insurance Corporation (NIC)

-Partners with Magma Design Automation Inc. to offer expert design services for leading edge integrated circuit designs

-High Court sanctions Scheme of Arrangement between HCL Infosystems, HCL Technologies, and HCL Infinet

-Joins the Xperts program of Xilinx Inc (Nasdaq:XLNX), the worldwide leader of programmable logic solutions

-Signs a multi- year, multi- million dollar collaborative IT co-sourcing contract with AMD, a leading supplier of integrated circuits for the personal and networked computer and communications markets

-Pursuant to Scheme of Arrangement between HCL Infosystems Ltd, HCL Technologies Ltd, HCL Infinet Ltd and their respective shareholders and creditors, as approved by Hon'ble High Court of Delhi, the Merger Committee of HCL Technologies Ltd on August 30, 2003 allots 7,075,154 equity shares of Rs 2/- each fully paid up to the shareholders of HCL Infosystems Ltd.

-Registered Office changed to Nehru Place, New Delhi

-Hcl bpo head Sujit Bakshi quits the company

-HCL announced that it has reached an agreement with Perot Systems to divest its stake in HCL Perot Systems for USD 105.3 Mn. This is for an all cash consideration.

-US firm acquires HCL's equity in Joint Venture

-Hcl Technologies Ltd has informed that Ambassador Richard Burt, Director of the company, has retired by rotation at the Annual General Meeting of the Company held on December 20, 2003 and it was furthur resolved at the meeting not to fill in the vacancy caused by his retirement.

2004

-has formally announced that it has bought out the 49.5 per cent equity shares of erstwhile HCL Perot Systems (HPS) from their joint venture known as Aircom HPS Wireless Services (AHWS).

-Hcl Technologies Ltd has informed that the shares of the Company have been delisted from Delhi Stock Exchange (DSE) wef January 23, 2004.

-HCL Tech Sets up Insurance Solutions Center in Chennai

-HCL Technologies has entered into a strategic tie-up with IBM Rational Software, a division of IBM, to strengthen its software development capabilities.

-HCL Technologies Ltd has informed that the Company has on May 18, 2004 announced the appointment of Stuart Drew as Director (Europe) Global Insurance Practice

-HCL Technologies display new set of software solutions based on Microsoft's Smarter Retailing Initiative

-HCL Tech arm ties up with Cicada

-HCL Technologies named Microsoft Global Systems Integrator Partner

-HCL Technologies unveils latest RFID based asset management solution at ESEC, Tokyo -HCL Technologies Ltd today (July 13, 2004) announced that the Company has been conferred the prestigious "Excellence in Education Award" for 2004 by the Life Office Management Association (LOMA)

- BPO delivery centre in Chennai gets BS7799 certification, by the British Standards Institute (BSI) on August 27, 2004

-Introduces CrosSView, a framework based Computer Systems Validation (CSV) methodology for the development of robust software applications in the Life Sciences arena.

-Delist from the Madras Stock Excahnge Limited (MSE) w.e.f. December 22, 2004.

2005

- Enters into an agreement with Agere Systems a global leader in semiconductors for storage, wireless data and public and enterprise networks.

- Forms partnership with Compuware Corporation, a world leader in delivering software and services that enable businesses to manage their enterprises and maximize the value of their IT assets.

- Signs MoU with the "Supercomputing Facility for Bioinformatics and Computational Biology" (SCFBio) at IIT Delhi to work collaboratively on high-end projects in the area of drug discovery and development including genomics and protemics projects.

-SEBI ties up with HCL Technologies for market surveillance solutions

-HCL Technologies forms joint venture with NEC, Japan

-HCL Technologies launches easy Labelling Solution for US FDA's SPL

-HCL Technologies & Talent & Pro enter into partnership to provide solutions in Banking, Insurance & Financial Domain to Europe

-HCL Technologies & EXA, Japan announce strategic partnership

-HCL's Infrastructure Services Division ranked a 'Strong Performer' in Remote Infrastructure Management by an International Research firm

2006

-HCL Technologies & Qumas signs distribution agreement

-HCL Tech joins hand with Wavesat

-HCL Technologies Launches RoHS Compliance Management System For Medical Device Users

-HCL enters $70 m outsourcing deal with Teradyne of US

-HCL Launches "Trusted ICT Infrastructure Platforms" for BPO-ITeS Segment

-HCL appoints Karan Puri Sr. Vice President of Retail, Media & Entertainment in North America.

-HCL Technologies & Sage sign Alliance to develop Private Wealth Management Solutions

-HCL Technologies Ltd has inked pact with Canada based electronics manufacturing services company Celestica Inc to jointly design and manufacture electronic products for global original equipment manufacturers (OEMs)

2007

- HCL Technologies forms strategic alliance with Eckler to strengthen Insurance Domain expertise

-HCL Technologies Ltd and Advanced Electronics Company (AEC), a Riyadh-based Economic Offset Program Company, have signed an agreement to implement IT (Information Technology) projects in Saudi Arabia.

-HCL Technologies has forayed into an alliance with $200 million Saudi Arabian company Advanced Electronics Company (AEC) to implement IT projects in West Asia.

-HCL Technologies Ltd on June 18, 2007 announced a US $15 million contract with Alenia Aeronautica, to provide engineering services that will support the improvement of the C-27J Spartan production line.

-HCL Technologies Ltd has announced that Vineet Nayar, President of the Company will assume the CEO chair with effect from October 16, 2007. Shiv Nadar will be the Chairman and Chief Strategy Officer of the Company.

-The Company has issued Bonus Shares in the Ratio of 1:1.

2008

-HCL to acquire British BPO firm

-HCL BPO to adopt non-linear growth strategy

-HCL completes acquisition of UK's Axon

-HCL wins over Axon board for takeover bid

-HCL Technologies Launches First-of-its-Kind on-Demand Software Testing Lab 2009

- HCL Technologies has entered into a five-year transformational IT infrastructure management engagement with the Energy Future Holdings Corporation (EFHC), a Texas-based, privately-held energy company.

-HCL signs a Rs 393 crore, 7 year end-to-end IT Services engagement with National Insurance Company

-HCL Tech gets outsourcing contract from MTV Networks

-HCL Signs a five year engagement with Energy Future Holdings for IT Infrastructure Management Services

-HCL receives the International Investor of the Year Prize

-HCL Technologies Emerges as a Most Admired Knowledge Enterprises (MAKE) Winner

-HCL Technologies opens Global Development Center in Brazil to service growing client base in Latin America, North America and

-HCL Technologies opens Global Development Center in Brazil to service growing client base in Latin America, North America

2010

- HCL Technologies has announced a partnership with nMatric of the U.S. for providing intelligent shopfloor solutions to automotive manufacturers.

- HCL Tech - HCL AXON Launches, iControl, a Utility Web Enablement Solution for Customer Billing and AMI

- HCL Technologies and Talisma enter into a Strategic Partnership

- HCL launches fastest laptop

- HCL Technologies - International Aerospace and Defense Leader Meggitt Signs $50 Million Global Engineering Transformation Service.

- HCL AXON, a division of HCL Technologies, the world's largest services provider dedicated to SAPr solutions, announced that it has signed a strategic Go-To-Market (GTM) partnership and implementation agreement with NextLabs, Inc., the leader in policy-driven information risk management solutions.

2011

- HCLTechnologies - HCL enters into a strategic partnership with Tangoe.

- HCL Technologies Ltd 's Lippo and HCL signs Landmark Memorandum of Understanding In -presence of Indonesian President.

- HCL Technologies - HCL Opens Global Enterprise Mobility Lab in Singapore

- HCL Technologies Launches CataLOG; The one-stop Supply Chain Platform for SME's powered by eBizNET Solutions.

- HCL Technologies - HCL Launches ACE SmartCare Solution at HiMss.

- HCLTechnologies - New Trend in BPO talent acquisition

- HCL Technologies ties up with Orion Edutechs

2012

- HCL, a global IT services company, has another feather in its cap. According to the reports, the company has been selected by Statoil, a leading Norwegian energy company, as the partner for strategic infrastructure management services.

- HCL Technologies enters into strategic relationship with State Street to provide BPO services".

- HCL Tech bags outsourcing deal from State Street

- HCLTechnolog - HCL BPO Services (NI) announces consultation on redundancy proposals and recommits itself to Northern Ireland.

- HCL Technologies enters into strategic relationship with Great American Insurance Group

- HCL wins ICD 10 transformation deal with Blue Shield of California.

- HCL partners with Cisco to open South Africa Centre of Excellence (GCoE) in Johannesburg

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