HCLTech, an India-based information technology services company, said on July 3 it had won a US$1.14 billion deal with an unnamed European firm to transform and manage the client’s global digital workplace and enterprise networks using an AI-driven operating model.

Shares rose as much as 6.3% after the announcement, while the Nifty IT index gained 2.7%.

The five-and-a-half-year deal, which HCLTech said was new business rather than a renewal or work for an existing client, can be extended by another five years.

It is HCLTech’s largest announced deal since a US$2.1 billion Verizon contract in August 2023.

Digital workplace services generally let employees access apps, data, and desktops securely from anywhere across on-premises and cloud environments.

HCLTech reported US$9.3 billion in fiscal year 2026 new-deal total contract value (TCV), while Europe grew 3% year on year in the quarter ended June 30, 2024.

🔗 Source: Reuters