HCL bags $500 mn Contract from Merck & Co.

Wednesday, May 5, 2010

HCL tech, the fifth-largest Indian IT giant has bagged an excellent contract from a US Firm. HCL has got contract of $500 mn from Company named Merck which is major pharmaceutical company. Merck has been an HCL client for six years but the deal marks a substantial enhancement of the relationship.

“HCL’s deal with Merck is one of the largest strategic engagements in HCL history. We will add jobs in north Carolina for the project"

Well this is one of the biggest deals in the recent times i guess, as this contract will pan out for 5 years. I see Indian IT giants are picking pretty big deals in the recent times as TCS had a pada deal with UK government is pegged around $600 million although it did attract political backlash. Patni in the mid size space also bagged $200 million deal from the insurance company Universal American.

For the past two years i can see like Indian IT sector was really missing the bigger deals , i mean to say the deals which are near and above $500 mn , the average size of the deals was reduced to $50-$200 million range. But the recent deals from TCS, Patni or HCl can give hope to Indian IT sector is market is still open for the bigger deals.

Well i see HCL is doing a great business, Last year, HCL bagged a $350-million outsourcing deal from media house Readers’ Digest and now it has got much bigger deal than that :-).

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