HCL Technologies has entered into a shared services arrangement with Xerox Corporation pursuant to which Xerox will outsource (subject to compliance with European works council consultation and employment regulatory requirements) certain global administrative and support functions, including, among others, selected information technology and finance functions. The transaction revenue over the course of seven years will be $1.3 billion.
The company is expected to make certain up-front and ongoing investments in software, tools and other technology to consolidate, optimize and automate the transferred functions with the goal of providing improved service levels and significant cost savings to Xerox.
HCL Technologies is a leading global IT services company that helps global enterprises re- imagine and transform their businesses through digital technology transformation.
