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HCL to Build a New Digital Foundation for Hitachi ABB Power Grids

Posted On: 2021-05-04 09:25:01 (Time Zone: UTC)

HCL Technologies (HCL), a leading global technology company, today announced a multi-year contract with Hitachi ABB Power Grids, the leader in sustainable, digital energy solutions, to build a new greenfield digital foundation as part of a global transformation program. Through this engagement, HCL will help Hitachi ABB Power Grids establish a new, efficient and modern independent IT organization. The engagement will support its continued business transformation by reducing dependency on the historic ABB IT services infrastructure.

Hitachi ABB Power Grids was formed in 2020 as a joint venture between Hitachi and ABB to create a new global leader in pioneering power and digital technologies. As part of the new digital foundation, HCL will provide Hybrid Cloud Services, Digital Workplace Services, Next-gen Network Services, Unified Service Management and Cybersecurity Services. Leveraging HCL's "Cloud Smart" offerings, Hitachi ABB Power Grids will benefit from an adaptive portfolio with innovative cloud services driven by intelligent automation and a powerful partner ecosystem. These capabilities will enhance Hitachi ABB Power Grids' operations in more than 90 countries and improve end-user experiences for its 36,000 employees worldwide. Hitachi ABB Power Grids identified that HCL was best placed to develop from scratch a new Digital Foundation that would meet its strategic objectives to drive simplicity, speed and scalability throughout its global operations. HCL will establish strategic digital platforms, global standardization of IT services and futureproof solutions to keep pace with changing business requirements and evolving technology capabilities.

"As a pioneering technology leader, we're digitalizing the entire energy value chain to make the world's power grids stronger, smarter and greener. It's crucial that this transformation also includes our internal operations, as well as the solutions we create for our clients," said Michael Loechle, CIO, Hitachi ABB Power Grids. "We knew we needed to break away from the historic IT organization we'd inherited, and HCL was the perfect strategic partner to help us create a next-generation operating model. We were particularly impressed by HCL's ability to create high quality and end user-focused solutions for our employees and offer an end-to-end model to ensure seamless execution. HCL's track record for bringing a culture of innovation to service delivery will ensure we are well placed to enjoy the long-term and sustainable benefits of digitalization."

"We're excited to work with Hitachi ABB Power Grids to build a new independent Digital IT environment. HCL will bring its well-developed expertise in executing complex carve-out programs for the new digital world," said Pankaj Tagra, Corporate Vice President and Nordic and DACH Head, HCL Technologies. "The opportunity to build a new Digital Foundation for such a major global organization is testament to the trust that our clients have in HCL's next-generation transformational expertise."

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.907.4 as compared to the previous close of Rs. 899.5. The total number of shares traded during the day was 399788 in over 19403 trades.

The stock hit an intraday high of Rs. 910 and intraday low of 891.25. The net turnover during the day was Rs. 361156054.

Source: Equity Bulls

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