HCL Tech has signed a five-year agreement with Swedish manufacturer Husqvarna Group for a strategic digital transformation partnership through artificial intelligence (AI)-based solutions and , the Indian IT services company said on December 6.
“In a major milestone for HCLTech, this is the first time a large global IT contract by an India- headquartered technology company has been Vested certified,” it said.
Husqvarna Group is a global producer of outdoor power and watering products, cutting equipment and power tools.
The financial terms of the deal agreement not shared.
Under the new five-year agreement, HCLTech will leverage its AI, digital, engineering and support services to enhance the resilience and stability of Husqvarna Groups’ IT environments through hyper-personalised, adaptive, AI-based solutions and a collaborative governance framework, the statement said.
“We are excited to formalise our partnership with HCLTech as our strategic Vested IT partner. We have co-created a unique governance model that will improve and accelerate technology development and a unified operating model that would further IT’s cause of creating value for our customers," Robert Hafredal, Group CIO, Husqvarna Group, said.
The partnership would continue to enable the company to empower its business with sustainable technology and data together with HCLTech, he said.
“We are glad to be a fully certified partner to Husqvarna Group in Vested methodologies, creating a unique model of transparency and incentives for us to jointly grow in our partnership," said Pankaj Tagra, Corporate Vice President – Europe and Africa, HCLTech.
Based on research conducted by the University of Tennessee College of Business Administration, Vested is a business model for creating highly collaborative win-win business relationships
At 2.25 pm, the stock was trading at Rs1,328.20 on the National Stock Exchange, up a percent from the previous close.
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