HCL signs $350 mn contract with Readers' Digest

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New Delhi, Mar 16: HCL Technologies has signed a seven-year outsourcing contract of worth $350 mn with Readers' Digest, US Company. This is one of the largest deals that has happened after the Satyam fraud. The deal has created a new wave signalling that Indian technology has been moving away from their dependence on banking and financial institutions amid recession.

R Srikrishna, senior vice president for HCL's North American operations said that the deal is very good for the morale of the company and for the employees.

With this, HCL will be among India's top five outsourcers by annual sales, in charge of developing applications, maintaining networks and servers and helping the Pleasantville, N.Y., media company expand into digital media, for example, by sending its articles to mobile phones.

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