HCLTech To Drive AI-Led Digital Transformation Of Sweden’s Husqvarna Group
Sweden's Husqvarna Group, which makes water pumps and sprinklers, has extended its tie-up with Indian IT services firm HCL Technologies Ltd. for AI-enabled digital transformation.
Under the new five-year agreement, HCLTech will leverage its digital engineering services to enhance the resilience and stability of Husqvarna's information technology environments through personalised AI-based solutions, an exchange filing on Wednesday said.
The financial details of the deal weren't disclosed.
“We have co-created a new governance model that will help improve and accelerate tech development and a unified operating model for customers,” Robert Hafredal, group chief information officer at Husqvarna Group, said in the statement. “This partnership will continue to enable us to empower our business with sustainable technology and data with HCLTech.”
Husqvarna Group, not to be confused with the namesake motorcycle brand owned by Bajaj Auto Ltd. and KTM owner Pierer Mobility Group, makes outdoor power products and tools. In India, it retails chainsaws to lawn mowers and garden tractors.
The HCLTech-Husqvarna deal is significant, as it burnishes the digital engineering overdrive by Indian outsourcers, especially when the IT services sector is in the throes of a slowdown and the global auto industry is prepped for a once-in-a-century disruption.
Global spending on engineering research and development is set to increase at a compounded annual growth rate of 10% over the next five years to $2.7 trillion, according to a Zinnov report.
Indian ER&D companies have signed multiple global deals in the past year, including KPIT Technologies Ltd.'s contracts with France's Renault SA and Japan's Honda Motor Co. Even Tech Mahindra Ltd. is looking to make the most of the synergies emanating from group firm Mahindra & Mahindra Ltd, according to incoming CEO Mohit Joshi. Besides, Tata Group—India's largest conglomerate—recently listed Tata Technologies Ltd., in what was the best market debut for an Indian firm.
“We are glad to be a fully certified partner to Husqvarna Group, creating a unique model of transparency and incentives for us to jointly grow in our partnership,” Pankaj Tagra, corporate vice president, Europe and Africa at HCLTech, said in the statement. “(This) demonstrates HCLTech's flexibility and innovation in creating newer, nimble and relevant business models.”
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