HCL and Odessa Sign Strategic Partnership Deal
Poster: SySAdmin
Posted on October 25, 2010 at 8:14:02 AM
HCL and Odessa Sign Strategic Partnership Deal
NOIDA, India, October 25, 2010/PRNewswire-FirstCall/ -- HCL Technologies Ltd. ("HCL") and Odessa Technologies, Inc. ("Odessa")
have announced a strategic partnership to expand distribution channels,
augment implementation capacity and increase speed-to-market for select
installations of Odessa's end-to-end lease management system, LeaseWave(R).
The partnership establishes HCL as a preferred implementation partner and
enables Odessa and its customers to leverage HCL's 64,000 member workforce,
with over 450 professionals experienced in implementing lending and leasing
solutions throughout the world.
"Odessa has established itself as a market leader by
delivering a proven lease management solution that successfully combines all
the benefits of scalable state-of-the-art technology with mature
functionality that traditionally was only found in legacy systems. The
combination of Odessa's world class equipment finance solution with HCL's
worldwide distribution channels, implementation expertise and support
services offers the equipment finance industry a comprehensive path for
overhauling outdated technologies that have limited innovation, flexibility
and growth," says Mike Pennell, Vice President, HCL.
"After 13 years of serving our industry, Odessa is now 150
people strong and continues to grow. But we also recognize that the industry
is at a critical crossroads in terms of technology; and this presents an
unprecedented opportunity for LeaseWave(R). Given this landscape, the HCL
relationship removes potential scale-related constraints on select
installations. It also allows Odessa to focus on key segments in the US
industry while leveraging HCL's worldwide presence," says Madhu Natarajan,
CEO, Odessa.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with
clients in the areas that impact and redefine the core of their businesses.
Since its inception into the global landscape after its IPO in 1999, HCL
focuses on 'transformational outsourcing', underlined by innovation and value
creation, and offers integrated portfolio of services including software-led
IT solutions, remote infrastructure management, engineering and R&D services
and BPO. HCL leverages its extensive global offshore infrastructure and
network of offices in 26 countries to provide holistic, multi-service
delivery in key industry verticals including Financial Services,
Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes
pride in its philosophy of 'Employees First' which empowers our 70,218
transformers to create a real value for the customers. HCL Technologies,
along with its subsidiaries, had consolidated revenues of US$ 2.9 billion
(Rs. 13,145 crores), as on 30th September 2010 (on LTM basis). For more
information, please visit http://www.hcltech.com.
About HCL Enterprise
HCL is a $5 billion leading global Technology and IT Enterprise that
comprises two companies listed in India - HCL Technologies & HCL Infosystems.
Founded in 1976, HCL is one of India's original IT garage start-ups, a
pioneer of modern computing, and a global transformational enterprise today.
Its range of offerings spans Product Engineering, Custom & Package
Applications, BPO, IT Infrastructure Services, IT Hardware, Systems
Integration, and distribution of ICT products across a wide range of focused
industry verticals. The HCL team comprises over 72,000 professionals of
diverse nationalities, who operate from 26 countries including over 500
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 http://www.hcl.inFor more information, please visit
http://www.hcl.com.
About Odessa Technologies, Inc.
Odessa Technologies, Inc. is a software company exclusively focused on
the leasing industry. The company is headquartered in Philadelphia, PA and
employs a staff of 150 people. The LeaseWave(TM) suite is a fully
Internet-based family of products, providing an end-to-end lease and loan
origination and portfolio management solution for equipment leasing and
finance, vehicle leasing and finance and fleet management companies. The
LeaseWave(TM) suite is specifically engineered, to be configurable and
customizable and accommodate even the most complex of business models, as
evidenced by its diverse customer base.
Forward-looking Statements
Certain statements in this release are forward-looking statements, which
involve a number of risks, uncertainties, assumptions and other factors that
could cause actual results to differ materially from those in such
forward-looking statements. All statements, other than statements of
historical fact are statements that could be deemed forward looking
statements, including but not limited to the statements containing the words
'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates',
'hopes' or other similar words. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding
impact of pending regulatory proceedings, fluctuations in earnings, our
ability to manage growth, intense competition in IT services, Business
Process Outsourcing and consulting services including those factors which may
affect our cost advantage, wage increases in India, customer acceptances of
our services, products and fee structures, our ability to attract and retain
highly skilled professionals, our ability to integrate acquired assets in a
cost effective and timely manner, time and cost overruns on fixed-price,
fixed-time frame contracts, client concentration, restrictions on
immigration, our ability to manage our international operations, reduced
demand for technology in our key focus areas, disruptions in
telecommunication networks, our ability to successfully complete and
integrate potential acquisitions, the success of our brand development
efforts, liability for damages on our service contracts, the success of the
companies / entities in which we have made strategic investments, withdrawal
of governmental fiscal incentives, political instability, legal restrictions
on raising capital or acquiring companies outside India, and unauthorized use
of our intellectual property, other risks, uncertainties and general economic
conditions affecting our industry. There can be no assurance that the forward
looking statements made herein will prove to be accurate, and issuance of
such forward looking statements should not be regarded as a representation by
the Company, or any other person, that the objective and plans of the Company
will be achieved. All forward looking statements made herein are based on
information presently available to the management of the Company and the
Company does not undertake to update any forward-looking statement that may
be made from time to time by or on behalf of the Company.
For details contact
Jim Humphrey
VP Sales and Marketing, Odessa Technologies, Inc.
+1-215-231-7170
jim.humphrey@odessatech.com
Kirsten Paragona
Director of External Communications, HCL
+1-857-350-5393
kparagona@hcl.com
Danielle Millerick
ThinkMedia PARTNERS for HCL
+1-978-666-4766
dmillerick@thinkmediapartners.com
Source: HCL Technologies Ltd
For details contact: Jim Humphrey, VP Sales and Marketing, Odessa Technologies, Inc., +1-215-231-7170, jim.humphrey@odessatech.com; Kirsten Paragona, Director of External Communications, HCL, +1-857-350-5393, kparagona@hcl.com; Danielle Millerick, ThinkMedia PARTNERS for HCL, +1-978-666-4766, dmillerick@thinkmediapartners.com
NOIDA, India, October 25, 2010/PRNewswire-FirstCall/ -- HCL Technologies Ltd. ("HCL") and Odessa Technologies, Inc. ("Odessa")
have announced a strategic partnership to expand distribution channels,
augment implementation capacity and increase speed-to-market for select
installations of Odessa's end-to-end lease management system, LeaseWave(R).
The partnership establishes HCL as a preferred implementation partner and
enables Odessa and its customers to leverage HCL's 64,000 member workforce,
with over 450 professionals experienced in implementing lending and leasing
solutions throughout the world.
"Odessa has established itself as a market leader by
delivering a proven lease management solution that successfully combines all
the benefits of scalable state-of-the-art technology with mature
functionality that traditionally was only found in legacy systems. The
combination of Odessa's world class equipment finance solution with HCL's
worldwide distribution channels, implementation expertise and support
services offers the equipment finance industry a comprehensive path for
overhauling outdated technologies that have limited innovation, flexibility
and growth," says Mike Pennell, Vice President, HCL.
"After 13 years of serving our industry, Odessa is now 150
people strong and continues to grow. But we also recognize that the industry
is at a critical crossroads in terms of technology; and this presents an
unprecedented opportunity for LeaseWave(R). Given this landscape, the HCL
relationship removes potential scale-related constraints on select
installations. It also allows Odessa to focus on key segments in the US
industry while leveraging HCL's worldwide presence," says Madhu Natarajan,
CEO, Odessa.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with
clients in the areas that impact and redefine the core of their businesses.
Since its inception into the global landscape after its IPO in 1999, HCL
focuses on 'transformational outsourcing', underlined by innovation and value
creation, and offers integrated portfolio of services including software-led
IT solutions, remote infrastructure management, engineering and R&D services
and BPO. HCL leverages its extensive global offshore infrastructure and
network of offices in 26 countries to provide holistic, multi-service
delivery in key industry verticals including Financial Services,
Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes
pride in its philosophy of 'Employees First' which empowers our 70,218
transformers to create a real value for the customers. HCL Technologies,
along with its subsidiaries, had consolidated revenues of US$ 2.9 billion
(Rs. 13,145 crores), as on 30th September 2010 (on LTM basis). For more
information, please visit http://www.hcltech.com.
About HCL Enterprise
HCL is a $5 billion leading global Technology and IT Enterprise that
comprises two companies listed in India - HCL Technologies & HCL Infosystems.
Founded in 1976, HCL is one of India's original IT garage start-ups, a
pioneer of modern computing, and a global transformational enterprise today.
Its range of offerings spans Product Engineering, Custom & Package
Applications, BPO, IT Infrastructure Services, IT Hardware, Systems
Integration, and distribution of ICT products across a wide range of focused
industry verticals. The HCL team comprises over 72,000 professionals of
diverse nationalities, who operate from 26 countries including over 500
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 http://www.hcl.inFor more information, please visit
http://www.hcl.com.
About Odessa Technologies, Inc.
Odessa Technologies, Inc. is a software company exclusively focused on
the leasing industry. The company is headquartered in Philadelphia, PA and
employs a staff of 150 people. The LeaseWave(TM) suite is a fully
Internet-based family of products, providing an end-to-end lease and loan
origination and portfolio management solution for equipment leasing and
finance, vehicle leasing and finance and fleet management companies. The
LeaseWave(TM) suite is specifically engineered, to be configurable and
customizable and accommodate even the most complex of business models, as
evidenced by its diverse customer base.
Forward-looking Statements
Certain statements in this release are forward-looking statements, which
involve a number of risks, uncertainties, assumptions and other factors that
could cause actual results to differ materially from those in such
forward-looking statements. All statements, other than statements of
historical fact are statements that could be deemed forward looking
statements, including but not limited to the statements containing the words
'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates',
'hopes' or other similar words. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding
impact of pending regulatory proceedings, fluctuations in earnings, our
ability to manage growth, intense competition in IT services, Business
Process Outsourcing and consulting services including those factors which may
affect our cost advantage, wage increases in India, customer acceptances of
our services, products and fee structures, our ability to attract and retain
highly skilled professionals, our ability to integrate acquired assets in a
cost effective and timely manner, time and cost overruns on fixed-price,
fixed-time frame contracts, client concentration, restrictions on
immigration, our ability to manage our international operations, reduced
demand for technology in our key focus areas, disruptions in
telecommunication networks, our ability to successfully complete and
integrate potential acquisitions, the success of our brand development
efforts, liability for damages on our service contracts, the success of the
companies / entities in which we have made strategic investments, withdrawal
of governmental fiscal incentives, political instability, legal restrictions
on raising capital or acquiring companies outside India, and unauthorized use
of our intellectual property, other risks, uncertainties and general economic
conditions affecting our industry. There can be no assurance that the forward
looking statements made herein will prove to be accurate, and issuance of
such forward looking statements should not be regarded as a representation by
the Company, or any other person, that the objective and plans of the Company
will be achieved. All forward looking statements made herein are based on
information presently available to the management of the Company and the
Company does not undertake to update any forward-looking statement that may
be made from time to time by or on behalf of the Company.
For details contact
Jim Humphrey
VP Sales and Marketing, Odessa Technologies, Inc.
+1-215-231-7170
jim.humphrey@odessatech.com
Kirsten Paragona
Director of External Communications, HCL
+1-857-350-5393
kparagona@hcl.com
Danielle Millerick
ThinkMedia PARTNERS for HCL
+1-978-666-4766
dmillerick@thinkmediapartners.com
Source: HCL Technologies Ltd
For details contact: Jim Humphrey, VP Sales and Marketing, Odessa Technologies, Inc., +1-215-231-7170, jim.humphrey@odessatech.com; Kirsten Paragona, Director of External Communications, HCL, +1-857-350-5393, kparagona@hcl.com; Danielle Millerick, ThinkMedia PARTNERS for HCL, +1-978-666-4766, dmillerick@thinkmediapartners.com