Country’s 4th largest software services firm HCL Technologies set to acquire Volvo

Q.  Which software services firm has said it will acquire Volvo Group’s External IT business?
- Published on 17 Feb 16

a. Infosys
b. TCS
c. HCL Technologies
d. Cognizant

ANSWER: HCL Technologies
The 4th largest software services company in India, HCL Technologies indicated it would acquire the external IT business of Volvo group and has signed a 5 year outsourcing deal with the commercial vehicles maker. For this acquisition, companies signed a letter of intent in October adding 40 new customers in Nordic and France regions and extremely skilled 2500 employees from 11 nations to the portfolio of HCL. Noida based firm has agreed to acquire the external IT business of Swedish Volvo group for INR 895 crore in a complete cash deal. This is one of the largest deals signed by any Indian IT company and the first in the industry to employ the principles of Vested Sourcing as the basis for IT outsourcing engagement of a certain size and magnitude.

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