As part of this multi-year deal, HCL will extend existing development efforts of GridPoint’s software solutions to help accelerate the pace of delivering new capabilities to the market. The acceleration will help GridPoint meet the increased demand for smart energy solutions across the entire GridPoint product portfolio, including both utility and enterprise solutions.
“We were looking for an IT services provider with a strong global presence that had extensive industry experience plus a robust set of development capabilities,” said John Spirtos, CEO of GridPoint. “HCL was an ideal choice and we believe their network of resources will help us in deploying solutions even more quickly.”
“We are very pleased and honored to provide our expertise to GridPoint and share their passion for bringing innovation to enterprise and utility customers” said Rajeev Sawhney, Corporate Vice President, HCL Technologies. “We are very confident that our breadth of experience and extensive engineering background will help GridPoint provide a best in class experience to its customers.”
HCL has end to end capabilities in Electric Utilities, Water Utilities, Oil & Gas Exploration, Refining and Energy Trading and implementing Hardware and Software capabilities. HCL offers service innovation with its integrated service offerings and Multi-service delivery with innovative business models such as output-based pricing and risk-reward sharing.
About HCL Technologies
HCL Technologies (hcltech.com) 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, 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 ‘Employee First, Customer Second’ which empowers our 82,464 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, has reported consolidated revenues of US$ 4.0 billion (`19,412 crores), as on 31 March 2012 (on LTMbasis).
HCL (hcl.com) is a $6.2 bn leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing and a transformational enterprise, HCL’s diverse range of hardware and software offerings span a wide array of focused industry verticals. The HCL team consists of 90,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India.
About GridPoint, Inc.
GridPoint (gridpoint.com), an established leader in smart energy solutions, helps Fortune 500 enterprises, government agencies and utilities develop and execute energy strategies that improve operational efficiency and maximize savings.
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.
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