HCL Tech surges 4% on inking $2.1 billion deal with Verizon Communications

Shares of HCL Technologies surged 4.4 per cent to Rs 1,185.55 on the BSE in Friday’s intra-day trade after the company won a $2.1 billion contract from Verizon Communications to manage its networks for the business customers.

The partnership combines Verizon’s networking power, solutioning, and scale with HCLTech’s market leading Managed Service capabilities to usher in a new era of large-scale wireline service delivery for enterprise customers, these companies said in a news release.

Verizon Business will continue to lead all customer acquisition, sales, solutioning, and overall planning and development with its customers. HCL Tech will lead post-sale implementation and ongoing support. To execute the tightly coordinated balance of responsibilities at enterprise scale,