HCLTech

HCLTech

HCLTech campus in Noida
Formerly	Hindustan Computers Limited
Type	Public
Traded as	BSE: 532281 NSE: HCLTECH BSE SENSEX constituent NSE NIFTY 50 constituent
ISIN	INE860A01027
Industry	Information technology Consulting Outsourcing
Founded	11 August 1976 (1976-08-11)
Founder	Shiv Nadar
Headquarters	Noida, Uttar Pradesh , India
Area served	Worldwide
Key people	Roshni Nadar Malhotra (Chairperson) Shiv Nadar (Chairman Emeritus & CSO) C Vijayakumar (CEO)
Products	HCL Notes/Domino HCL AppScan HCL Connections HCL Commerce Actian HCL BigFix Starschema WebSphere Portal Ingres HCL Unica HCL Sametime HCL iNotes
Services	Software
Revenue	₹111,408 crore (US$13 billion) (2024)
Operating income	₹20,967 crore (US$2.5 billion) (2024)
Net income	₹16,565 crore (US$2.0 billion) (2024)
Total assets	₹99,777 crore (US$12 billion) (2024)
Total equity	₹68,271 crore (US$8.2 billion) (2024)
Owner	Shiv Nadar (60.77%)
Number of employees	227,481 (2024)
Parent	HCL Group
Website	www.hcltech.com

HCL Technologies Limited, doing business as HCLTech, is an Indian multinational information technology (IT) consulting company headquartered in Noida. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 60 countries and over 225,000 employees.

History

Formation and early years

In 1976, a group of eight engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers. Initially floated as Microcomp Limited, Nadar and his team (which also included Arjun Malhotra, Ajai Chowdhry, D.S. Puri, Yogesh Vaidya and Subhash Arora) started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed Hindustan Computers Limited (HCL). HCL Enterprise developed an indigenous microcomputer in 1978, and a RDBMS, networking OS and client-server architecture in 1983. HCL Technologies began as the R&D division of HCL Enterprise.

The company originally was focused on hardware but, via HCL Technologies, software and services became the main focus. On 12 November 1991, HCL Technologies was spun off as a separate unit, being incorporated as HCL Overseas Limited, a provider of software and technology development services.

In 1993, HCL also started providing enterprise IT infrastructure management services, winning an order to establish India's first floorless, electronic stock exchange for NSE.

In July 1994, the company name was changed to HCL Consulting Limited. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."

Between 1991 and 1999, the company expanded its software development capacities to US, European and APAC markets.

IPO and subsequent expansion

HCL became Manchester United's digital technology partner in 2015.

The company went public on 10 November 1999, with an issue of 142 crore (14.2 million) shares.

In 2001, HCL formed a joint venture with Deutsche Bank by acquiring a 51% stake in the latter's Indian subsidiary Deutsche Software (later renamed DSL Software). In 2004, HCL bought out the remaining 49% stake in DSL Software, which then became part of HCL's banking technology division.

In 2005, HCL expanded its operations in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, the then UK Prime Minister Tony Blair announced the expansion.

In October 2017, IBM and HCL announced a strategic partnership, with the latter taking over the development of IBM Lotus Software's Notes, Domino, Sametime and Verse collaboration tools.

In July 2018, US-based Actian was acquired by HCL and Sumeru Equity Partners for $330 million.

In 2019, HCL Technologies acquired products of IBM including AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes/Domino, and Unica.

In 2021, the company reached $10 billion in revenue. In 2022, HCL Technologies rebranded as HCLTech.

In May 2024, HCLTech decided to acquire select assets of Communications Technology Group, a business division of Hewlett Packard Enterprise (HPE), for $225 million.

Acquisitions

Acquisition date	Company	Business	Country	References
29 October 2001	Apollo Contact Centre	Business process outsourcing	United Kingdom
3 June 2002	Gulf Computers Inc.	Application development	United States
20 February 2008	Capital Stream Inc.	Business process automation	United States
16 July 2008	Liberata Financial Service	Business process outsourcing	United Kingdom
25 August 2008	Control Point Solutions, Inc.	Telecommunications service	United States
15 December 2008	Axon Group Plc.	SAP Consulting	United Kingdom
16 July 2009	UCS Group's Enterprise Solutions SAP Practice	SAP	South Africa
1 April 2016	Part of Volvo IT	Information technology	Sweden
19 October 2015	Concept to Silicon Systems (C2SiS)	Semiconductors	India
29 October 2015	PowerObjects	CRM Consulting	United States
2016	Geometric Ltd	PLM & Engineering Services	India
17 January 2017	Butler America Aerospace	Engineering & Design	United States
25 April 2017	Urban Fulfillment Services, LLC	Business Process Outsourcing	United States
5 September 2017	ETL Factory Limited (Datawave)	Automation	United Kingdom
27 June 2018	H&D International Group	IT and engineering services provider	Germany
9 September 2019	Sankalp Semiconductor	Technology design services firm	India
14 January 2022	Starschema	Data services company	Hungary/United States
9 May 2022	Confinale AG	digital banking and wealth management consulting specialist	Switzerland
9 May 2022	Quest Informatics	Industry 4.0 and internet of things	India
13 July 2023	ASAP Group	Automotive engineering services provider	Germany
23 May 2024	HPE CTG	Telco solutions	United States

Operations

Countries where HCL has offices (circa 2015).

HCLTech operates in 60 countries, including its headquarters in Noida, India. It has establishments in Australia, China, Hong Kong, India, Indonesia, Israel, Japan, Malaysia, New Zealand, Saudi Arabia, Singapore, South Africa, the United Arab Emirates, Qatar, Morocco and Sri Lanka. In Europe, it covers Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Romania, Finland, France, Germany, Italy, Lithuania, Netherlands, Norway, Poland, Sweden, Switzerland, Portugal, and United Kingdom. In the Americas, the company has offices in Brazil, Canada, Mexico, Puerto Rico, Guatemala, and United States.

Old logo of the company which was used until 2022

HCLSoftware

In 2019, HCL Technologies started a software product division called HCLSoftware, after completing the acquisition of IBM's software tools. Notable products under HCLSoftware include HCL Notes, AppScan, Connections, Commerce Cloud, Actian, BigFix, Digital Experience, Ingres, Unica, Sametime, and iNotes. HCLSoftware division had revenue of ₹11,109 crore (US$1.3 billion) in fiscal year 2022–23.

Leadership

HCLTech has had four CEOs since its inception:

1. Shiv Nadar (1976–2007)
2. Vineet Nayar (2007–2013)
3. Anant Gupta (2013–2016)
4. C Vijayakumar (2016–present)

HCL Group

HCLTech is the flagship company of the HCL Group. Another HCL Group company, HCL Infosystems, was formed in 1976 to produce calculators. HCL Infosystems later became one of the leading manufacturers of personal computers and laptops in India, but it eventually lost market share to foreign competitors like HP and Dell, and shut down its manufacturing division.

In February 2014, HCL Group launched HCL Healthcare, which provides corporate health services. HCL TalentCare is the fourth venture of HCL Group, which provided skilling and staffing services.

See also

• List of IT consulting firms
• List of public listed software companies of India
• Software industry in Telangana
• Information technology in India
• List of Indian IT companies