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The shares of HCL Technologies gained more than 2 percent on Tuesday when the company announced the strategic partnership with Barclays.
HCL Technologies in its filing at Registrar of Companies said that “It has partnered with Barclays were it would provide the company with IT infrastructure services and will also be building partnership globally.”
The company said that “The investments will mainly be in AI and automation, including in its automation platform DryICETM, and as a part of the deal, Barclays will approximately transfer its 460 employees of its Operations Center in Lithuania to HCL.”
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Rahul Singh, President of Financial Services, said “Our partnership with Barclays is a significant endorsement of HCL’s digital workplace and automation capabilities. We already employ more than 10,000 people in Europe, serving over 200 European clients.”
“This new agreement will see HCL deliver transformational services to both Barclays and other major clients from Lithuania. We will leverage these with our unique Mode 1-2-3 strategy to enable clients to reimagine their businesses for the digital age,” he added
Mariano Andrade Gonzalez, the Head of BGOL, said: “While aiming to achieve the highest quality of business and services, we continuously review our operations by the long-term global strategy of Barclays. As one of the steps towards the implementation of this strategy, a decision has been made to optimize operations, meaning a number of roles could transfer to HCL Technologies, with whom we have worked closely for a few years.”
The company in its filing also said that “the deal is yet to finalized as it is pending for banking regulatory notification, but both the hope complete the deal by the first part of 2019.”