HCL Technologies signs pact with Freescale Semiconductors, stock up 2%

NEW DELHI: HCL Technologies Ltd surged over 2 per cent in early morning trades on Thursday in an overall weak market, after the company announced on Wednesday that it has entered into a landmark five-year, multi-million dollar deal with Freescale Semiconductor.

At 09:50 a.m., HCL Technologies was trading 2.4 per cent higher at Rs 585.15. It has hit a low of Rs 573.50 and a high of Rs 592.00 today.

“HCL Technologies will serve as an exclusive technology partner for Freescale, managing and strategically transforming their end-to-end corporate IT Infrastructure landscape,” the company said in a filing with exchanges.

“Freescale will develop more resilient systems, optimize its operational costs, increase visibility into IT operations, experience reduced technology complexity and improved quality,” the filing added.