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|July 25, 1997||
HCL buying back HP's equity in joint ventureHCL HP and Hewelett-Packard Company have announced that they have reorganised their joint business activities in India.
HCL, the promoters, are in the process of buying back HP's 26 per cent of the equity in HCL HP and the company will be rechristened HCL Infosystems.
The reorganisation will enable HCL to focus on enterprise solutions and personal computers. The two distinctive and fast emerging segments of the Indian information technology market.
The HP range of RISC/UNIX servers and workstations will continue to be exclusively marketed and supported by HCL Infosystems as has been done for the last six years.
In addition, HP will continue its ongoing intellectual investment in HCL Infosystems through training programmes, worldwide product introductions and launches, and marketing support.
To support HCL Infosystems, HP will invest additional marketing and support resources in HP India by adding additional human resource investment of 25 specially designated employees. In a mutually rewarding relationship of six years, HCL and HP are entering a new phase, with no break in continuity.
HCL Infosystems will continue to focus on the domestic market by delivering solutions to Indian companies in industries such as telecommunications, manufacturing, financing and banking.
HCL Infosystems Professional Services Organisation will offer systems integration and software consultancy to companies in these sectors, a press release of the company said.
The other primary focus for HCL Infosystems is the PC market. Defined by rapid penetration and usage of PCs, HCL Infosystems aims to meet the estimated demand for three million PCs in 2000. Success in the segment will be determined by robust manufacturing capabilities to service the high volumes and generate higher margins. Its state of the art manufacturing plants at NOIDA and at Pondicherry are fully equipped to respond to this burgeoning demand. It will continue to manufacture its indigenous range of PCs and servers called Infiniti Busybee and Beanstalk.
Related story: HP pullout from HCL HP denied
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