HCL Technologies Continues to Invest in Nordics Region

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European market makes up for about 26 per cent of revenues of HCL Technologies in the third quarter of 2018, witnessing a growth of 3.5 per cent y-o-y

HCL Technologies, Indian multinational technology company, will continue to do significant investments in the Nordics region as it increases its employee count and delivery capabilities to further reinforce its position in that region, according to a senior company official.

Nordics region consists of countries in the Northern Europe and North Atlantic including Norway, Sweden, Iceland, Finland, Denmark, Greenland and territories of the Faroe Islands and Aland Islands. The region is the biggest market for HCL Technologies in European region.

“HCL Technologies has its presence in the Nordics region for more than 10 years. The company has 12 delivery centres and more than 1,600 employees in that region. It has over 50 large-scale customers that include four of the six companies in Fortune Global 500 of Nordics region. The company will continue to significantly invest in the Nordics market as it is the biggest in the European region for HCL,” reported PTI, citing Pankaj Tagra, EVP Nordic and DACH Head, HCL Technologies as saying.

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HCL has also opened a new office in Stockholm, capital of Sweden at the company’s headquarters in Nordics region, Tagra added.

Europe – A major market for HCL

European market makes up for about 26 per cent of revenues of HCL Technologies in the third quarter of 2018, witnessing a growth of 3.5 per cent as compared to the same period last year. The contribution from Americas in company’s revenues stood at 65.8 per cent and 7.4 per cent of the revenues come from Rest of the World, in the quarter ended September 2018.

HCL’s other markets in European region include the UK, DACH countries (Germany, Austria and Switzerland), France, Ireland and Benelux (Belgium, the Netherlands and Luxembourg).

The Nordic region has become a major engine of growth for HCL, on the back of long-term strategic activities. There is a robust demand in the region across various sectors such as manufacturing, telecom, services, BFSI (banking, financial services and insurance) and oil and gas,” and Tagra said.

There is a strong demand in the Nordics for new-age technologies such as automation, design thinking, artificial intelligence (AI) and cybersecurity.

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