STOCKHOLM, Sweden, Sept. 22, 2004 (PRIMEZONE) -- OMX Technology signs strategic partnership agreement with HCL Technologies
Today, OMX Technology and HCL Technologies signed a five-year strategic partnership agreement involving the outsourcing of certain OMX systems development and maintenance. As a result of the agreement and in line with OMX Technology's strategy to expand in Asia, OMX has now effectively established a presence in India. The agreement will enable OMX Technology to focus more resources on development of new technology activities and maximize efficiencies across the organization, which translates into increased value for our customers worldwide.
"We believe that this partnership will benefit our customers since it allows us to increase our focus on development of leading edge technology as well as improving overall flexibility and scalability as a technology, processing and outsourcing provider," said Klas Stahl, President of OMX Technology. "We also believe that it will position us better for cost-efficient growth, speed up time to market and open a channel to the growing securities markets in India as part of our strategy to increase OMX Technology's presence in Asia."
Speaking on the occasion, Rajeev Sawhney, Executive Vice President, HCL Technologies Europe, said, ``We have always had a special focus on the Banking and Financial Services industry. This new association with OMX Technology, a world leader in securities transactions, allows us the opportunity to add meaningfully to their capability and to develop cutting edge solutions in this domain. The relationship is multifaceted and synergistic in many ways. It should open up a host of opportunities for both companies."
About OMX Technology
OMX Technology is a global company with expertise in how to make securities transactions more efficient. Known for its fully electronic marketplace platforms, OMX Technology is a world leading provider of transaction technology, processing and outsourcing solutions for the financial and energy markets. OMX Technology has over 100 customers in 20 countries and is the largest commercial provider of marketplace systems to the world's major exchanges. OMX Technology is a division of OMX, a company that also owns and operates exchanges, clearing organizations and central securities depositories, and has operations in 11 countries. For more information, please visit www.omxgroup.com.
About HCL Technologies
HCL Technologies is one of India's leading global IT services companies, providing software-led IT solutions, BPO and infrastructure management services. Founded in 1991, HCL Technologies focuses on technology and R&D outsourcing, working with clients in areas at the core of their business. The company leverages an extensive offshore infrastructure and its global network of 26 offices in 14 countries to deliver solutions across select verticals including Banking, Insurance, Retail, Aerospace, Automotives, Semi-conductors, Petrochemicals and Life Sciences. As of 30th June 2004, HCL Technologies along with its subsidiaries, had 16 358 employees. For more information, please visit www.hcltech.com.
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