European media company Mecom Group Plc has entered into an agreement with HCL Technologies and HCL Great Britain to outsource a significant portion of its IT operations.
HCL will initially provide Mecom with infrastructure and, in certain cases, applications management services in the Netherlands, Denmark and Norway, it said in a statement.
It is a five year contract, which will commence in the first half of 2012 and Mecom will have an option to renew the deal for a further two years.
HCL could also extend the number of services it offers by mutual agreement in due course, Mecom said.
Mecom said it will incur a cost in excess of 90 million euro over five years of the contract.
HCL Technologies shares were traded up 0.6% at Rs 506.45 on NSE in afternoon trade.
Source:http://www.moneycontrol.com/news/business/hcl-techoutsourcing-pact-for-mecom-groups-it-ops_567972.html
