MoneyWorks4Me

HCL divests NHST stake to NEC

28 Mar 2013 Evaluate

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.

Peers
Company Name CMP
TCS 2528.00
Infosys 1154.50
HCL Technologies 1424.00
Wipro 189.75
Tech Mahindra 1789.40
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