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HCL Technologies Ltd Divests NEC HCL System Technologies Stake To NEC Corp

Thursday, 28 Mar 2013 09:18am EDT 

HCL Technologies Ltd announced that it has divested its entire (49%) stake in NEC HCL System Technologies (NHST), a joint venture between HCL Technologies and NEC Corp, provider of internet, broadband network and enterprise business solutions. NEC has agreed to buy the stake for an all cash consideration of USD12 million. The Company formed the joint venture with NEC in 2005. HCL and NHST have been providing software engineering solutions in embedded software, hardware design, network & security, R&D, high performance computing and mobile technology to NEC and its subsidiaries. Taking this relationship forward, HCL and NEC will keep maintaining a viable relationship.