HCL Technologies (HCL), a leading global IT services provider, has divested its entire (49%) stake in NEC HCL System Technologies (NHST), a joint venture between HCL Technologies and NEC Corporation, a leading provider of internet, broadband network and enterprise business solutions. NEC has agreed to buy the stake for an all cash consideration of $12 million.
The company formed the joint venture with NEC in 2005. HCL and NHST have been providing software engineering solutions in embedded software, hardware design, network & security, R&D, high performance computing and mobile technology to NEC and its subsidiaries. Taking this relationship forward, HCL and NEC will keep maintaining a viable relationship.
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses.
