Skyline Global Outsourcing Update

Indias largest IT player in infrastructure management services HCL Technologies has outbid global majors such as IBM, CSC and HP to wina $79-million deal to manage the IT infrastructure of Singapore Exchange. HCL Technologies on Monday said that it has signed a five-year IT infrastructure outsourcing agreement worth S$110 million, to establish a state-of-the-art data centre and seamlessly connect other global trading hubs to Singapore Exchange (SGX).

BSE listed HCL Technologies stock went up Rs 12, or 3.3 percent, following the announcement of the deal. SGX stock listed on its own exchange went up marginally to close at S$7.5. Industry sources said that HCL Technologies was the sole Indian bidder amongst the seven players that bid for the deal. The deal may open doors for Indian IT companies as many global stock exchanges are looking at IT restructuring, reducing latency and cutting costs.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).