HCLTech
 | |
 HCLTech campus in Noida | |
| Formerly | Hindustan Computers Private Limited |
|---|---|
| Type | Public |
| ISIN | INE860A01027 |
| Industry | Information technology Consulting Outsourcing |
| Founded | 11 August 1976[1] |
| Founder | Shiv Nadar |
| Headquarters | , |
Area served | Worldwide |
Key people |
|
| Products | |
| Services | Software[4] |
| Revenue |  ₹102,814 crore (US$13 billion)[5] (2023) |
| ₹19,488 crore (US$2.4 billion)[5] (2023) | |
| ₹16,146 crore (US$2.0 billion)[5] (2023) | |
| Total assets | ₹93,411 crore (US$12 billion)[5] (2023) |
| Total equity | ₹65,398 crore (US$8.2 billion)[5] (2023) |
| Owner | Shiv Nadar (60.77%) |
Number of employees | 225,944 (2023)[2] |
| Parent | HCL Group |
| Website | www |
| Footnotes / references [6] | |
HCL Technologies Limited, d/b/a HCLTech (formerly Hindustan Computers Pvt. Limited), is an Indian multinational information technology (IT) services and consulting company headquartered in Noida. The founder of HCLTech is Shiv Nadar. It emerged as an independent company in 1991 when HCL entered into the software services business.[7] The company has offices in 52 countries and over 225,944 employees.[8]
HCLTech is on the Forbes Global 2000 list.[9] It is among the top 20 largest publicly traded companies in India with a market capitalization of ₹281,209 crore as of March 2022.[10][11] It is one of the top Big Tech (India) companies.[12]
History[edit]
Formation and early years[edit]
In 1976, a group of eight engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers.[13][14] Initially floated as Microcomp Limited, Nadar and his team (which also included Arjun Malhotra, Ajai Chowdhry, D.S. Puri, Yogesh Vaidya and Subhash Arora) started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed Hindustan Computers Limited (HCL).[15] The company originally was focused on hardware but, via HCL Technologies, software and services became a main focus.[16][17]
HCL Technologies began as the R&D Division of HCL Enterprise,[18] a company which was a contributor to the development and growth of the IT and computer industry in India. HCL Enterprise developed an indigenous microcomputer in 1978,[19] and a networking OS and client-server architecture in 1983.[20] On 12 November 1991, HCL Technologies was spun off as a separate unit to provide software services.[21] Later subsidiaries included HCL Infosystems and HCL Healthcare.
On 12 November 1991, a company called HCL Overseas Limited was incorporated as a provider of technology development services.[22] It received the certificate of commencement of business on 10 February 1992 after which it began its operations. Two years later, in July 1994, the company name was changed to HCL Consulting Limited.[23] On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."[22]
Between 1991 and 1999, the company expanded its software development capacities to US, European and APAC markets.[22]
IPO and subsequent expansion[edit]
The company went public on 10 November 1999, with an issue of 142 crore (14.2 million) shares, valued at ₹4 each.[24] During 2000, the company set up an offshore development centre in Chennai, India, for KLA-Tencor Corporation.[24]
In 2002, it acquired Gulf Computers Inc.[24]
In February 2014, HCL launched HCL Healthcare.[25] HCL TalentCare is the fourth and latest venture of HCL Corporation.[26]
In July 2018, US-based Actian was acquired by HCL and Sumeru Equity Partners for $330 million.[27][28]
In 2019, HCL Technologies acquired a select few products of IBM. HCL took the full ownership of research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica.[29] Furthermore, in 2021, the company reached 10 $billion dollars in revenue.[30]
In 2022, HCL Technologies rebranded as HCLTech.[31] [32]
Acquisitions and partnerships[edit]
Acquisitions[edit]
| Number | Acquisition date | Company | Business | Country | References |
|---|---|---|---|---|---|
| 1 | 20 February 2008 | Capital Stream Inc. | Business process automation | United States | [33] |
| 2 | 16 July 2008 | Liberata Financial Service | Business process outsourcing | United Kingdom | [34] |
| 3 | 25 August 2008 | Control Point Solutions, Inc. | Telecommunications service | United States | [35] |
| 4 | 15 December 2008 | Axon Group Plc. | SAP Consulting | United Kingdom | [ |
