HCL TECHNOLOGIES WINS MASSIVE $600 MILLION DEAL; EMPLOYEES TO RECEIVE 'BEST MANAGEMENT SERVICES' 

Major IT company HCL Technologies has bagged a massive $600 million deal from Swedish telecom equipment maker Ericsson. Under this agreement, HCL will provide the best infrastructure management, cloud and application services to Ericsson. 

As per Times of India (ToI) report, the big contract is for five years. While, the deal, which was earlier split and executed by several vendors, has been fused by Ericsson under HCL. Apart from HCL, IT major - TCS was the other strong contender for the deal.

Highlighting about the deal, UK research firm Omdia recently said that 56 deals worth $13.9 billion in the telecom space will come up for renewal between now and December (2020). Meanwhile, Hansa Iyengar, principal analyst at Omdia told ToI that "most of the deals are concentrated in the EMEA and APAC regions and IBM is the major incumbent in these deals, followed by Nokia Networks."

Further giving an insight about the deal, she asserted that "most of these are infrastructure deals which were signed 7-10 years ago, they will likely involve a complete infrastructure refresh and a significant apps portion as well."

Looking back at 2019, Tech Mahindra had won an over $1 billion deal from AT&T Communications which was Tech Mahindra's largest-ever deal. It was bigger than that with British Telecom, with which it had a long association.

Also, the telecom space is getting a lot of attention as early 5G adopters will benefit from time efficiency and speed to provide a host of services to their clients, ToI also states.