HCLTech

HCL Technologies Limited (HCLTech) is an Indian multinational technology company headquartered in Noida, Uttar Pradesh. It was spun out of HCL Group in 1991 when HCL entered into the software services business. Founded by Shiv Nadar, the company has presence in 60 countries and over 223,000 employees. It is the third-largest India-headquartered IT services company by revenue and market capitalization. The company unveiled its brand identity "HCLTech", underpinned by the distinct positioning of Supercharging Progress™, in 2022.

HCLTech was named as the highest-ranked India-headquartered technology company for the second consecutive year in TIME magazine's World’s Best Companies list in 2025. It has also been included in TIME's World's Most Sustainable Companies list for the second consecutive year in 2026, placing it among the top five global professional companies. In 2026, HCLTech was named to Fortune magazine’s World’s Most Admired Companies list in the IT services category.

History

Formation and early years The company originally was focused on hardware but, via HCL Technologies, software and services became the main focus. On 12 November 1991, HCL Technologies was spun off as a separate unit, being incorporated as HCL Overseas Limited, a provider of software and technology development services.

In 1993, the company also started providing enterprise IT infrastructure management services, winning an order to establish India's first floorless, electronic stock exchange for NSE.

In July 1994, the company name was changed to HCL Consulting Limited. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."

Between 1991 and 1999, the company expanded its IT services capacities to US, European and APAC markets.

IPO and subsequent expansion

HCLTech went public on 11 January 2000, with an issue of 14.2 million shares. By the early-2000s, its wholly owned subsidiary HCL Comnet had expanded its offerings from VSAT to include network security and IT infrastructure services.

In 2001, HCLTech formed a joint venture with Deutsche Bank by acquiring a 51% stake in the latter's Indian subsidiary Deutsche Software (later renamed DSL Software). In 2004, HCLTech bought out the remaining 49% stake in DSL Software, which then became part of HCL's banking technology division.

In 2003, HCLTech won a contract to develop embedded software for Airbus A340's flight warning system. That same year, the company sold its entire stake in HCL Perot Systems, a seven-year old IT services company, to joint venture partner Perot Systems for over $105 million.

In 2005, HCLTech expanded its operations in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, the then UK Prime Minister Tony Blair announced the expansion.

In 2008, HCLTech acquired the UK-based consultancy Axon Group for £440 million and merged the company's enterprise application services (EAS) division into Axon. In the three years following the acquisition, the EAS division's revenue share within HCL increased from 9% to 22%.

In October 2017, IBM and HCLTech announced a strategic partnership, with the latter taking over the development of IBM Lotus Software's Notes, Domino, Sametime and Verse collaboration tools.

In 2018, US-based Actian was acquired by HCLTech and Sumeru Equity Partners for $330 million. HCL America acquired the remaining 19.6% stake in Actian for $100.2 million in 2021, making Actian the data & analytics division of HCLSoftware, but keeping it an independent company.

In 2019, HCL Technologies acquired products of IBM including AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes/Domino, and Unica.

In 2021, the company reached $10 billion in revenue.

In 2023, HCLTech acquired ASAP Group, a German automotive engineering company for $279 million. In August 2023, HCLTech signed a $2.1 billion managed network services deal with Verizon Business.

In May 2024, HCLTech announced the acquisition of select assets of Communications Technology Group, a business division of Hewlett Packard Enterprise (HPE), for $225 million.

In June 2026, it picked up 10.5% stake in Indian AI startup Sarvam for $150.7 million.The company entered the data center business to offer full-stack AI services in 2026.

Acquisitions Acquisition date Company Business Country Ref. Apollo Contact Centre Business process outsourcing United Kingdom Gulf Computers Inc. Application development United States DSL Software Banking software India Shipara Technologies Product engineering and embedded systems India Aquila Technologies Engineering software India Capital Stream Inc. Business process automation United States Liberata Financial Service Business process outsourcing United Kingdom Control Point Solutions, Inc. Telecommunications service United States Axon Group SAP consulting United Kingdom UCS Group's SAP division SAP consulting South Africa Concept to Silicon Systems (C2SiS) Semiconductors India Volvo's external IT division IT services Sweden 29 October 2015PowerObjectsCRM consultingUnited States2 April 2016Geometric LtdPLM and engineering servicesIndia21 October 2016Butler America AerospaceEngineering and design servicesUnited States25 April 2017Urban Fulfillment Services, LLCBusiness process outsourcingUnited States5 September 2017ETL Factory Limited (Datawave)AutomationUnited Kingdom12 April 2018ActianData analyticsUnited States27 June 2018H&D International Group IT and engineering servicesGermany13 March 2019Strong-Bridge EnvisionIT consultingUnited States9 September 2019Sankalp SemiconductorTechnology design servicesIndia21 September 2020DWS LtdIT servicesAustralia14 January 2022StarschemaData servicesHungary/United States9 May 2022Confinale AGDigital banking and wealth management consultingSwitzerland9 May 2022Quest InformaticsIndustry 4.0 and internet of thingsIndia13 July 2023ASAP GroupAutomotive engineering servicesGermany23 May 2024HPE's CTG divisionTelco solutionsUnited States9 August 2024ZeeneaData management and analyticsFrance20 February 2026WobbySoftwareBelgium6 March 2026FinergicWealth ConsultingSingapore2 July 2026JaspersoftSoftwareUnited States31 July 2026Guardian India OperationsFinancial ServicesUnited States3 August 2026HPE Telco SolutionsTelco SolutionsUnited States

Operations

HCLTech operates in 60 countries and has more than 200 delivery centers and 70+ labs. Its headquarters are in Noida, India. The USA is the company's largest market, accounting for 56.3% of its revenue, followed by Europe at 27.8%, as of March, 2026. The company provides services in the fields of AI, Engineering, Digital, Cloud, and Software. HCLTech's business is divided into three segments: IT and Business Services (ITBS), Engineering and R&D Services (ERS), and HCLSoftware.

HCLSoftware In 2019, HCL Technologies started a software product division called HCLSoftware, after completing the acquisition of IBM's select software products. Notable products under HCLSoftware include HCL AppScan, HCL BigFix, HCL Connections, HCL Commerce, HCL Digital Experience, HCL Sametime, HCL Notes, Domino, and HCL Unica. As for Actian, their data & analytics division, notable products include HCL Informix, Actian Data Platform, Actian Ingres, Actian Zen, Actian NoSQL and Zeenea. HCLSoftware reported annual recurring revenue of in fiscal year 2025–26.

In 2024, HCLSoftware entered into a partnership with India's Department for Promotion of Industry and Internal Trade (DPIIT) as part of the Manufacturing Incubation Initiative. Under the partnership, HCLSoftware launched the HCL SYNC program, which provided participating startups with opportunities for international exposure. The initiative was associated with the Government of India's Make in India program and focused on supporting the development and commercialization of domestic intellectual property.

Employees As of June 30, 2026, HCLTech had over 223,000 employees worldwide, representing 164 nationalities. The company has been recognized as a Global Top Employer and was recognized by Forbes as one of America’s Best Employers for New Grads for the third consecutive year in 2026.

HCLTech has had four CEOs since its inception: +CEOTenureShiv Nadar1976–2007Vineet Nayar2007–2013Anant Gupta2013–2016C Vijayakumar2016–present

HCL Group HCLTech is the flagship company of the HCL Group. Another HCL Group company, HCL Infosystems, was formed in 1976 to produce calculators. HCL Infosystems later became one of the leading manufacturers of personal computers and laptops in India, but it eventually lost market share to foreign competitors like HP and Dell, and shut down its manufacturing division.

In February 2014, HCL Group launched HCL Healthcare, which provides corporate health services. HCL TalentCare is the fourth venture of HCL Group, which provided skilling and staffing services.

In 2026, India Chip Private Ltd, HCL Group’s joint venture with Taiwan’s Foxconn, launched a chip manufacturing facility in Jewar, Uttar Pradesh.

HCLFoundation HCLFoundation is the CSR arm of HCL Technologies in India. As of March 2026, it has invested around ₹1,984 crores in social and environmental programs. Its initiatives include the HCLTech Grant. Samuday, Uday, My Clean City and Harit. Through Sports for Change, it has reached over 64,000 athletes, out of which 25 para athletes have represented India internationally. Through My E-Haat, HCLFoundation has supported over 5,000 artisans in diverse craft traditions across 10 states.

Sports Partnerships HCLTech has served as the Official Digital Technology Partner of Cricket Australia since 2019, supporting the governing body's digital platforms and fan experiences. In the United States, HCLTech is the Digital Transformation Partner of MetLife Stadium, home to the New York Giants and New York Jets, and expanded the relationship in 2026 to include an AI partnership. In 2026, HCLTech also became the Official Digital Experience Partner of the DP World Tour, leading a multi-year transformation of the golf tour's digital ecosystem and fan-facing platforms.

HCLTech

Bron en licentie