Brief Hcltech Announces Strategic Partnership With European Firm

HCLTech, India’s third-largest IT services firm, announced a $1.14 billion partnership with a Europe-headquartered Fortune Global 50 company to transform and manage its global digital workplace and enterprise network services, according to a stock exchange filing on Friday.Sources familiar with the matter told ET that the client is Mercedes-Benz, with HCLTech beating out Infosys, which was the incumbent vendor for the account. This comes as enterprises increasingly consolidate vendors, with tech spending budgets tightening amid tough macroeconomic and geopolitical conditions.In the filing, HCLTech said the partnership will set up an AI-led operating model for the client’s workplace and network operations. The contract runs from July 2026 to December 2031, with an option to extend it by another five years. HCLTech said the deal is entirely new business for the company.The deal adds to a series of large infrastructure and workplace transformation contracts being signed by technology services firms in Europe as clients in the region are opening up new outsourcing and transformation opportunities.