Strategic Engineering Agreement to Provide Adaptec with Improved Productivity, Access to Additional Technology Capabilities and the Ability to Manage and Scale Engineering Resources on Demand MILPITAS, Calif., July 24
MILPITAS, Calif., July 24 /PRNewswire-FirstCall/ -- Adaptec Inc.
(Nasdaq: ADPT) today announced a strategic agreement with HCL Technologies
Limited (NSE: HCLTECH.NS) that will significantly bolster Adaptec's global
engineering capabilities, provide access to HCL's comprehensive IT technology
portfolio, allow for greater engineering flexibility and augment Adaptec
engineering resources based in the U.S. and Germany. Under the terms of the
agreement, Adaptec will retain ownership of all intellectual property (IP)
developed, and HCL will integrate Adaptec's India Technology Center (ITC) in
Bangalore, India into its operations and assume responsibility for the
management of Adaptec engineering programs assigned to that location.
"Our strategic alliance with HCL Technologies allows Adaptec to operate an
enhanced India-based engineering team as a true ODC (offshore development
center). This gives us the potential for improved productivity by better
streamlining overhead costs and increasing our ability to scale our
engineering teams on demand," said S. "Sundi" Sundaresh, president and chief
executive officer, Adaptec Inc. "In addition, HCL Technologies' impressive
array of technology capabilities offers Adaptec the opportunity to seamlessly
infuse additional engineering resources and experiences into our development
teams that can lead to additional product innovation."
As part of this alliance, Adaptec ITC employees transferred to HCL will
continue to work exclusively on Adaptec engineering projects. HCL will have
additional engineers work with the Adaptec team to ensure a seamless
transition and, where and when appropriate, will provide access to HCL's
expansive information technology experience. Adaptec will also have the
flexibility to add HCL engineers, as needed. The agreement does not affect
the timing and deliverables of any current engineering projects at the Adaptec
ITC. Moving forward, the engineering team will contribute to the development
of a wide range of Adaptec technologies and products.
"We are pleased to enter into a strategic engineering agreement with
Adaptec and welcome its team of India-based engineers into the HCL
organization," said Shami Khorana, president of HCL America. "This agreement
is not only proof of our commitment to leverage modular capabilities to engage
across the value chain, it is also the beginning of a new chapter in the
evolution of offshore product development and yet another illustration of our
collaborative engagement with our customers."
"HCL is one of the world's best engineering services companies and they
have completed development projects for many companies. We are extremely
pleased with their quality of work, attention to technical detail and ability
to meet milestone dates," said Jim Schmidt, vice president of engineering,
Adaptec Inc. "Because Adaptec has worked with HCL on previous engineering
projects, we are confident in their level of expertise and anticipate the
continued synergy in our go-forward business strategies."
About Adaptec
Adaptec Inc. provides trusted storage solutions that reliably move,
manage, and protect critical data and digital content. Adaptec's software and
hardware-based solutions are delivered through leading channel partners and
Original Equipment Manufacturers (OEMs) to provide storage connectivity, data
protection, and networked storage to enterprises, government organizations,
medium and small businesses worldwide. More information is available at
www.adaptec.com.
About HCL Technologies
HCL Technologies is one of India's leading global IT services companies,
providing software-led IT solutions, remote infrastructure management services
and BPO. Having made a foray into the global IT landscape in 1999 after its
IPO, HCL Technologies focuses on Transformational Outsourcing, working with
clients in areas that impact and re-define the core of their business. The
company leverages an extensive global offshore infrastructure and its global
network of offices in 18 countries to deliver solutions across select
verticals including Financial Services, Retail & Consumer, Life Sciences &
Healthcare, Hi-Tech & Manufacturing, Telecom and Media & Entertainment (M&E).
As of March 31, 2008, HCL Technologies, along with its subsidiaries, had last
twelve months (LTM) revenue of U.S. $1.8 billion (Rs. 7083 crores) and
employed 49,802 professionals.
About HCL Enterprise
HCL Enterprise is a $4.8 billion leading Global Technology and IT
Enterprise that comprises two companies listed in India - HCL Technologies &
HCL Infosystems. The three-decade-old enterprise, founded in 1976, is one of
India's original IT garage start-ups. Its range of offerings spans Product
Engineering, Custom & Package Applications, BPO, IT Infrastructure Services,
IT Hardware, Systems Integration, and distribution of ICT products. The HCL
team comprises over 55,000 professionals of diverse nationalities, who operate
from 18 countries including 360 points of presence in India. HCL has global
partnerships with several leading Fortune 1000 firms, including leading IT and
Technology firms. For more information, please visit www.hcl.in.
Contact:
Andrew Staples
Walt & Company for Adaptec
408-369-7200 ext. 1056
astaples@walt.com
SOURCE Adaptec Inc.
