The Hindu : Business : HCL Tech wins $70 m deal from Teradyne

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Friday, Jul 14, 2006

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Business

HCL Tech wins $70 m deal from Teradyne

Special Correspondent

$25 million will be billed in the first year

BANGALORE: HCL Technologies has won a $70 million (euro 58.3 million) outsourcing deal from U.S. based automated test equipment maker Teradyne.

Under the five-year, multi-service outsourcing deal, HCL Technologies will manage Boston-based Teradyne's information infrastructure and software application related jobs, said HCL President Vineet Nayyar.

Although Teradyne's minimum commitment was to pay $70 million to HCL Technologies for the work, Mr. Nayyar said he expected the contract would eventually be scaled up.

"We have won a $70 million five-year deal from Teradyne of which $25 million will be billed in the first year itself. The minimum amount is $70 million. It can be much larger,'' Mr. Nayyar stated. The scope of the agreement includes IT consulting, application development and end-to-end application and IT infrastructure management involving data centre, network, security and help desk services.

The deal with a co-sourcing model of engagement includes remote infrastructure management with other critical operations for Teradyne. HCL will be involved in architecture and design of Teradyne's IT operations and data centre migration.

"This partnership will enhance Teradyne's capabilities in global sourcing, enable reduction in costs and improve our ability as we enhance our position as a global leader in automatic test equipment,'' Teradyne Chief Information Officer Chuck Ciali said.

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