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|June 30, 1998||
HCL Infosystems to set up overseas subsidiaries
A Staff Writer in Bombay
HCL Infosystems Limited, the flagship of the $ 600 million HCL Group, has announced that it is setting up overseas subsidiaries.
Leveraging its expertise in total technology solutions and services, HCL
The company has received the shareholders' ratification at an extraordinary general meeting held in New Delhi. To be set up within the next two months, these international offices will be in countries including the US, the UK, Singapore and Malaysia.
With this, HCL Infosystems would further strengthen position and become a dominant player in the global services market.
Announcing the company's globalisation plans, Ajai Chowdhry, president and CEO, HCL Infosystems said, "In a rapidly evolving market like IT, one has to be extremely nimble to grow. This is another step towards making HCL Infosystems a dominant player in the global IT services market. In fact, in the next phase, we will open subsidiaries in countries such as other European and Far East Asian countries as well as Australia and New Zealand. We have already done extensive ground work in these countries in terms of identifying specific business opportunities."
HCL Infosystems is also consolidating the hardware and services businesses of the group in itself.
This will better equip it to offer both solutions development and implementation and support services, in India and globally. HCL Infosystems has been reorganising itself for higher value-added businesses.
The approach, which is to see hardware as one of the key components of the solution follows from the fact that HCL's major value addition, is outside the box.
For this, HCL Infosystems is buying out the assets of HCL Infosolutions and HCL peripherals, and acquiring the customer support activities, related products and human resource of HCL Office Automation.
Operationally, these businesses will work as independent divisions of HCL Infosystems with the same systems, procedures, products and structure. HCL Infosystems will protect company audiences including customers and maintain the entire installation base of these companies across the country.
"We anticipate that the emerging market lies in the need of the large corporates, small and medium enterprises and small office/home office segments for solutions and in value-added support services offerings to both Indian customers as well as the global market.
"The approach synergies with the growth of the services businesses of HCL Infosystems, both in the area of professional services as well as support services. These acquisitions will enable HCL Infosystems to comprehensively address total technology solutions in the services and hardware sectors of the IT industry in the new millennium," added Chowdhry.
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