A new alliance is poised to influence the telecom world as Verizon Business and Indian ICT company HCLTech team up in an agreement touted to be valued at a whopping $2.1 billion.
The alliance aims to merge Verizon’s sterling networking prowess and technological solutions with HCLTech’s recognized Managed Network Services (MNS) capabilities. Post-sales implementation and seamless support for Verizon Business patrons are part of the offerings, with HCLTech at the helm. This partnership aims to assist clients in injecting cutting-edge technologies like 5G, SD-WAN, and SASE into their operations and offerings to end-users.
“Verizon Business can modernize our service delivery and simultaneously heighten our focus on helping customers incorporate next-generation technology like 5G, SD-WAN and SASE into their operations and their own customer offerings” stated Kyle Malady, CEO of Verizon Business. He added, “HCLTech is a widely recognized industry leader for Managed Network Services, and with their IT service expertise and ongoing support of our enterprise networking deployments, we can realize the future of IT/OT convergence.”
As a consequence of this monumental deal, several departments from Verizon’s Business Global Customer Operations will mesh into HCLTech to ensure smooth operations. A silver lining for Verizon, this deal brings the opportunity to breathe new life into its stagnant fixed-line business. By providing their patrons with a state-of-the-art, flexible, and attractive delivery framework, Verizon envisages a bright future.
Scott Lawrence, the SVP at Verizon, maintains that this deal will kickstart the process to “unlock value” before this year runs out, with greater integration envisaged from 2024.