India's third-largest IT firm HCLTech Ltd on Tuesday (June 11) said it has signed a deal worth $278 million with Germany's largest cooperative primary bank — Deutsche Apotheker-und Ärztebank eG (apoBank).
HCLTech will help apoBank achieve an outcome-oriented managed services model that delivers resilient, scalable, high quality and compliant digital foundation services, enabling apoBank to deliver fast and secured banking services to its customers.
Thomas Runge, COO and Member of the Executive Board of apoBank, said, "At apoBank, we welcome the expansion of our partnership with HCLTech. In addition to world-class capabilities in IT infrastructure and cloud-managed services, HCLTech has extensive Avaloq expertise and deep understanding of apoBank. This makes HCLTech the ideal partner for apoBank."
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"apoBank became an HCLTech client in 2021 through a partnership in application services. The new contract will result in a significant expansion in the relationship. We look forward to working with apoBank to help them serve their customers by leveraging our comprehensive portfolio of managed infrastructure and cloud services and our longstanding experience with Avaloq," said Sudip Lahiri, Executive Vice President and Head of Financial Services, Europe, HCLTech.
Shares of HCL Technologies Ltd ended at ₹1,428.65, up by ₹10.15, or 0.72%, on the BSE.
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