HCL Technologies Limited (HCLTech) is an Indian multinational technology company headquartered in Noida, Uttar Pradesh. It was spun out of HCL Group in 1991 when HCL entered into the software services business. Founded by Shiv Nadar, the company maintains a presence in 60 countries,[5] while it employs over 230,000 individuals.[6] Additionally, it is the third-largest India-headquartered IT services company by revenue and market capitalization.[7][8] The company unveiled its brand identity "HCLTech", underpinned by the distinct positioning of Supercharging Progress™, in 2022.
In 2025, HCLTech was named the highest-ranked India-headquartered technology company for the second consecutive year in TIME magazine's World’s Best Companies list.[9] It has also been included in TIME's World's Most Sustainable Companies list for the second consecutive year in 2026, placing it among the top five global professional companies.[10] In 2026, HCLTech was named to Fortune magazine’s World’s Most Admired Companies list in the IT services category.[11]
History
Formation and early years
The company originally focused on hardware, but software and services became the main focus through HCL Technologies.[12][13] On 12 November 1991, HCL Technologies was spun off as a separate unit,[14] being incorporated as HCL Overseas Limited, a provider of software and technology development services.[15]
In July 1994, the company name was changed to HCL Consulting Limited.[15] On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."[15]
Between 1991 and 1999, the company expanded its IT services capacities to US, European and APAC markets.[15]
IPO and subsequent expansion
HCLTech celebrated the 25th anniversary of its IPO in 2025 [17]
In 2001, HCLTech formed a joint venture with Deutsche Bank by acquiring a 51% stake in the latter's Indian subsidiary Deutsche Software (later renamed DSL Software).[21] In 2004, HCLTech bought out the remaining 49% stake in DSL Software, which then became part of HCL's banking technology division.[22]
In 2003, HCLTech won a contract to develop embedded software for Airbus A340's flight warning system.[23] That same year, the company sold its entire stake in HCL Perot Systems, a seven-year-old IT services company, to joint venture partner Perot Systems for over $105 million.[24]
In 2005, HCLTech expanded its operations in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, then-UK Prime Minister Tony Blair announced the expansion.[25]
In 2008, HCLTech acquired the UK-based consultancy Axon Group for £440 million and merged the company's enterprise application services (EAS) division into Axon. In the three years following the acquisition, the EAS division's revenue share within HCL increased from 9% to 22%.[26]
In October 2017, IBM and HCLTech announced a strategic partnership, with the latter taking over the development of IBM Lotus Software's Notes, Domino, Sametime and Verse collaboration tools.[27]
In 2018, US-based Actian was acquired by HCLTech and Sumeru Equity Partners for $330 million.[28] In 2021, HCL America acquired the remaining 19.6% stake in Actian for $100.2 million,[29] transforming Actian into HCLSoftware's data & analytics division, but keeping it as an independent company.[30]
In 2021, the company reached $10 billion in revenue.[32]
In 2023, HCLTech acquired ASAP Group, a German automotive engineering company, for $279 million.[33] In August 2023, HCLTech signed a $2.1 billion managed network services deal with Verizon Business.[34][35]
In May 2024, HCLTech announced the acquisition of select assets of Communications Technology Group, a business division of Hewlett Packard Enterprise (HPE), for $225 million.[36]
In June 2026, it picked up a 10.5% stake in Indian AI startup Sarvam for $150.7 million.[37] In 2026, the company entered the data center business to offer full-stack AI services.
HCLTech operates in 60 countries and has more than 200 delivery centers and 70+ labs.[67] Its headquarters are in Noida, India. The USA is the company's largest market, accounting for 56.3% of its revenue, followed by Europe at 27.8%, as of March, 2026. The company provides services in the fields of AI, Engineering, Digital, Cloud, and Software.[68] HCLTech's business is divided into three segments: IT and Business Services (ITBS), Engineering and R&D Services (ERS), and HCLSoftware.[69]
In 2024, HCLSoftware entered into a partnership with India's Department for Promotion of Industry and Internal Trade (DPIIT) as part of the Manufacturing Incubation Initiative. Under the partnership, HCLSoftware launched the HCL SYNC program,[72] which provided participating startups with opportunities for international exposure. The initiative was associated with the Government of India's Make in India program and focused on supporting the development and commercialization of domestic intellectual property.
Employees
As of September 30, 2026, HCLTech had 230,000 employees worldwide, representing 164 nationalities.[67] The company has been recognized as a Global Top Employer [73] and was recognized by Forbes as one of America’s Best Employers for New Grads for the third consecutive year in 2026.[74]
HCLTech is the flagship company of the HCL Group.[77] Another HCL Group company, HCL Infosystems, was formed in 1976 to produce calculators.[78] HCL Infosystems later became one of the leading manufacturers of personal computers and laptops in India, but it eventually lost market share to foreign competitors like HP and Dell, and shut down its manufacturing division.[79]
In February 2014, HCL Group launched HCL Healthcare, which provides corporate health services.[80] HCL TalentCare is the fourth venture of HCL Group, which provided skilling and staffing services.[81]
In 2026, India Chip Private Ltd, HCL Group’s joint venture with Taiwan’s Foxconn, launched a chip manufacturing facility in Jewar, Uttar Pradesh.[82]
HCLFoundation
HCLFoundation is the CSR arm of HCL Technologies in India.[83] As of March 2026, it has invested around ₹1,984 crores in social and environmental programs. Its initiatives include the HCLTech Grant.[84] Samuday, Uday, My Clean City and Harit. Through Sports for Change, it has reached over 64,000 athletes, out of which 25 para athletes have represented India internationally. Through My E-Haat, HCLFoundation has supported over 5,000 artisans in diverse craft traditions across 10 states.[85]
Sports Partnerships
HCLTech has served as the Official Digital Technology Partner of Cricket Australia since 2019, supporting the governing body's digital platforms and fan experiences.[86] In the United States, HCLTech is the Digital Transformation Partner of MetLife Stadium, home to the New York Giants and New York Jets, and expanded the relationship in 2026 to include an AI partnership.[87] In 2026, HCLTech also became the Official Digital Experience Partner of the DP World Tour, leading a multi-year transformation of the golf tour's digital ecosystem and fan-facing platforms.[88]
↑"HCL Technologies". microsoft.com. HCL Technologies Limited is an Indian multinational IT services company, headquartered in Noida, Uttar Pradesh, India. ... subsidiary of HCL Enterprise. Originally a research and development division of HCL, .. independent .. 1991 .
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