SAN JOSE, Calif. and NOIDA, India, Dec. 3,
2018 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO),
a global technology leader that designs, develops and supplies
semiconductor and infrastructure software solutions, and HCL
Technologies (HCL), a leading global technology company, today
announced a global preferred services partnership agreement.
Effective immediately, HCL becomes the preferred services
partner for Broadcom's enterprise software products (part of former
CA Technologies) and will provide professional services, education
and training services. Broadcom customers will have access to
HCL's technological expertise across consulting, implementation,
upgrade and support services. In addition, the majority of
Broadcom's professional services personnel with expertise including
Agile, CyberSecurity and DevOps will transition to HCL. Broadcom's
Mainframe and US Public Sector professional services group will
continue to operate as-is outside of this partnership
agreement.
"This partnership represents an important building block as we
grow our infrastructure software capabilities advanced by the
acquisition of CA Technologies last month," said Hock Tan,
President and Chief Executive Officer of Broadcom. "We believe our
partnership, which spans more than a decade, and HCL's strength in
Digital and IT Infrastructure will help us jointly deliver the
expertise needed to support our customer's mission-critical
infrastructure software."
"This collaboration highlights our strong and growing
relationship with Broadcom," said C Vijayakumar, President and CEO,
HCL Technologies. "We will create a new Center of Excellence with
dedicated focus on Broadcom enterprise software products to provide
broad capabilities and solutions for a superior customer
experience. This will also create another strong differentiating
edge to our existing IT Services portfolio."
The partnership between HCL and Broadcom aligns to HCL's overall
growth strategy for its high-momentum Mode 2 services in the
Digital, Cloud and Cybersecurity space.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that
designs, develops and supplies a broad range of semiconductor and
infrastructure software solutions. Broadcom's category-leading
product portfolio serves critical markets including data center,
networking, software, broadband, wireless, storage and industrial.
For more information, go to www.broadcom.com.
About HCL Technologies
HCL Technologies (HCL) is a leading global technology company
that helps global enterprises re–imagine and transform their
businesses through Digital technology transformation. HCL operates
out of 43 countries and has consolidated revenues of US$ 8.2 billion, for 12 Months ended 30th September 2018. HCL focuses on providing an
integrated portfolio of services underlined by its Mode 1–2–3
growth strategy. Mode 1 encompasses the core services in the areas
of Applications, Infrastructure, BPO and Engineering & R&D
services, leveraging DRYiCE™ Autonomics to transform clients'
business and IT landscape, making them 'lean' and 'agile'. Mode 2
focuses on experience–centric and outcome–oriented integrated
offerings of Digital & Analytics, IoT WoRKS™, Cloud Native
Services and Cybersecurity & GRC services to drive business
outcomes and enable enterprise digitalization. Mode 3 strategy is
ecosystem–driven, creating innovative IP–partnerships to build
products and platforms business. HCL leverages its global network
of integrated co-innovation labs and global delivery capabilities
to provide holistic multi–service delivery in key industry
verticals including Financial Services, Manufacturing,
Telecommunications, Media, Publishing, Entertainment, Retail &
CPG, Life Sciences & Healthcare, Oil & Gas, Energy &
Utilities, Travel, Transportation & Logistics and Government.
With 127,875 professionals from diverse nationalities, HCL focuses
on creating real value for customers by taking 'Relationships
Beyond the Contract'. For more information, please
visit www.hcltech.com
HCL Technologies – Forward Looking Statements
Certain statements in this release are forward-looking
statements, which involve a number of risks, uncertainties,
assumptions and other factors that could cause actual results to
differ materially from those in such forward-looking statements.
All statements, other than statements of historical fact are
statements that could be deemed forward-looking statements,
including but not limited to the statements containing the words
'planned', 'expects', 'believes',' strategy', 'opportunity',
'anticipates', 'hopes' or other similar words. The risks and
uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding impact of pending
regulatory proceedings, fluctuations in earnings, our ability to
manage growth, intense competition in IT services, business process
outsourcing and consulting services including those factors which
may affect our cost advantage, wage increases in India, customer acceptances of our services,
products and fee structures, our ability to attract and retain
highly skilled professionals, our ability to integrate acquired
assets in a cost-effective and timely manner, time and cost
overruns on fixed-price, fixed-timeframe contracts, client
concentration, restrictions on immigration, our ability to manage
our international operations, reduced demand for technology in our
key focus areas, disruptions in telecommunication networks, our
ability to successfully complete and integrate potential
acquisitions, the success of our brand development efforts,
liability for damages on our service contracts, the success of the
companies /entities in which we have made strategic investments,
withdrawal of governmental fiscal incentives, political
instability, legal restrictions on raising capital or acquiring
companies outside India, and
unauthorized use of our intellectual property, other risks,
uncertainties and general economic conditions affecting our
industry. There can be no assurance that the forward-looking
statements made herein will prove to be accurate, and issuance of
such forward-looking statements should not be regarded as a
representation by the Company, or any other person, that the
objective and plans of the Company will be achieved. All
forward-looking statements made herein are based on information
presently available to the Management of the Company and the
Company does not undertake to update any forward-looking statement
that may be made from time to time by or on behalf of the
Company.
Broadcom Inc. – Forward Looking Statements
This announcement contains forward-looking statements (including
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended, and Section 27A of the United
States Securities Act of 1933, as amended) concerning Broadcom.
These statements include, but are not limited to, statements that
address Broadcom's expected future business and financial
performance and other statements identified by words such as
"will", "expect", "believe", "anticipate", "estimate", "should",
"intend", "plan", "potential", "predict" "project", "aim", and
similar words, phrases or expressions. These forward-looking
statements are based on current expectations and beliefs of the
management of Broadcom, as well as assumptions made by, and
information currently available to, such management, current market
trends and market conditions and involve risks and uncertainties,
many of which are outside Broadcom's and its management's control,
and which may cause actual results to differ materially from those
contained in forward-looking statements. Accordingly, you should
not place undue reliance on such statements.
Particular uncertainties that could materially affect future
results include risks associated with: Broadcom's acquisition of
CA, including (1) potential difficulties in employee retention, (2)
unexpected costs, charges or expenses, and (3) its ability to
successfully integrate CA's business and achieve the anticipated
benefits of the transaction; any loss of its significant customers
and fluctuations in the timing and volume of significant customer
demand; its dependence on contract manufacturing and outsourced
supply chain; its dependency on a limited number of suppliers; its
ability to realize the benefits of the CA transaction; any other
acquisitions we may make, including integrating acquired companies
with its existing businesses and its ability to achieve the
benefits, growth prospects and synergies expected by such
acquisitions; its ability to accurately estimate customers' demand
and adjust our manufacturing and supply chain accordingly; our
significant indebtedness, including the additional significant
indebtedness that Broadcom incurred in connection with the CA
transaction and the need to generate sufficient cash flows to
service and repay such debt; dependence on and risks associated
with distributors of its products; dependence on senior management;
quarterly and annual fluctuations in operating results; global
economic conditions and concerns; the amount and frequency of its
stock repurchases; cyclicality in the semiconductor industry or in
our target markets; Broadcom's competitive performance and ability
to continue achieving design wins with its customers, as well as
the timing of any design wins; prolonged disruptions of its or its
contract manufacturers' manufacturing facilities or other
significant operations; Broadcom's ability to improve its
manufacturing efficiency and quality; its dependence on outsourced
service providers for certain key business services and their
ability to execute to Broadcom's requirements; its ability to
maintain or improve gross margin; its ability to protect our
intellectual property and the unpredictability of any associated
litigation expenses; compatibility of its software products with
operating environments, platforms or third-party products; its
ability to enter into satisfactory software license agreements;
sales to its government clients; availability of third party
software used in its products; use of open source code sources in
its products; any expenses or reputational damage associated with
resolving customer product warranty and indemnification claims; its
ability to sell to new types of customers and to keep pace with
technological advances; market acceptance of the end products into
which its products are designed; its ability to protect against a
breach of security systems; fluctuations in foreign exchange rates;
its overall cash tax costs, legislation that may impact its overall
cash tax costs and its ability to maintain tax concessions in
certain jurisdictions; and other events and trends on a national,
regional and global scale, including those of a political,
economic, business, competitive and regulatory nature.
Broadcom filings with the SEC, which you may obtain for free at
the SEC's website at http://www.sec.gov, discuss some of the
important risk factors that may affect its business, results of
operations and financial condition. Actual results may vary from
the estimates provided. Broadcom undertakes no intent or obligation
to publicly update or revise any of the estimates and other
forward-looking statements made in this announcement, whether as a
result of new information, future events or otherwise, except as
required by law.
For more information, please contact
Broadcom
Karen Longcoy at
karen.longcoy@broadcom.com
HCL Technologies
Meenakshi Benjwal at Meenakshi.benjwal@hcl.com
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SOURCE Broadcom Inc.