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HCLTech
HCL Technologies Limited (d/b/a HCLTech) is an Indian multinational information technology (IT) consulting company headquartered in Noida. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 60 countries and over 220,000 employees. It is the third-largest India-headquartered IT services company by revenue and market capitalization as of 2024.
In 1976, a group of eight engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers. Initially floated as Microcomp Limited, Nadar and his team (which also included Arjun Malhotra, Ajai Chowdhry, D.S. Puri, Yogesh Vaidya and Subhash Arora) started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed Hindustan Computers Limited (HCL). HCL Enterprise developed an indigenous microcomputer in 1978, and an RDBMS, networking OS and client-server architecture in 1983. HCL Technologies began as the R&D division of HCL Enterprise.
The company originally was focused on hardware but, via HCL Technologies, software and services became the main focus. On 12 November 1991, HCL Technologies was spun off as a separate unit, being incorporated as HCL Overseas Limited, a provider of software and technology development services.
In 1993, HCL also started providing enterprise IT infrastructure management services, winning an order to establish India's first floorless, electronic stock exchange for NSE.
In July 1994, the company name was changed to HCL Consulting Limited. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."
Between 1991 and 1999, the company expanded its software development capacities to US, European and APAC markets.
HCL went public on 11 January 2000, with an issue of 14.2 million shares. By the early-2000s, its wholly owned subsidiary HCL Comnet had expanded its offerings from VSAT to include network security and IT infrastructure services.
In 2001, HCL formed a joint venture with Deutsche Bank by acquiring a 51% stake in the latter's Indian subsidiary Deutsche Software (later renamed DSL Software). In 2004, HCL bought out the remaining 49% stake in DSL Software, which then became part of HCL's banking technology division.
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HCLTech
HCL Technologies Limited (d/b/a HCLTech) is an Indian multinational information technology (IT) consulting company headquartered in Noida. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 60 countries and over 220,000 employees. It is the third-largest India-headquartered IT services company by revenue and market capitalization as of 2024.
In 1976, a group of eight engineers, all former employees of Delhi Cloth & General Mills, led by Shiv Nadar, started a company that would make personal computers. Initially floated as Microcomp Limited, Nadar and his team (which also included Arjun Malhotra, Ajai Chowdhry, D.S. Puri, Yogesh Vaidya and Subhash Arora) started selling teledigital calculators to gather capital for their main product. On 11 August 1976, the company was renamed Hindustan Computers Limited (HCL). HCL Enterprise developed an indigenous microcomputer in 1978, and an RDBMS, networking OS and client-server architecture in 1983. HCL Technologies began as the R&D division of HCL Enterprise.
The company originally was focused on hardware but, via HCL Technologies, software and services became the main focus. On 12 November 1991, HCL Technologies was spun off as a separate unit, being incorporated as HCL Overseas Limited, a provider of software and technology development services.
In 1993, HCL also started providing enterprise IT infrastructure management services, winning an order to establish India's first floorless, electronic stock exchange for NSE.
In July 1994, the company name was changed to HCL Consulting Limited. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."
Between 1991 and 1999, the company expanded its software development capacities to US, European and APAC markets.
HCL went public on 11 January 2000, with an issue of 14.2 million shares. By the early-2000s, its wholly owned subsidiary HCL Comnet had expanded its offerings from VSAT to include network security and IT infrastructure services.
In 2001, HCL formed a joint venture with Deutsche Bank by acquiring a 51% stake in the latter's Indian subsidiary Deutsche Software (later renamed DSL Software). In 2004, HCL bought out the remaining 49% stake in DSL Software, which then became part of HCL's banking technology division.