The development comes months after both TCS and HCLTech announced expansion of their deals with the Connecticut-headquartered company. Its new deal with HCLTech is worth $590 million for five years, while that with TCS is for $490 million over seven years, Xerox said in its filing with the US Securities and Exchange Commission this week.
TCS and HCLTech didn’t respond to emails seeking comment till the time of going to press Friday.
The filing disclosed Xerox’s spending commitment with Microsoft at $125 million and with SAP at $50 million, both for seven years.
While TCS in June announced expanding its partnership with Xerox to execute an end-to-end transformation programme, without disclosing the deal value, HCLTech in August said it was extending its 15-year-old partnership with the US company for an undisclosed amount.
Noida-based HCLTech at the time said its extended relationship with Xerox was focused on strategic AI-driven engineering services and digital process operations. Xerox’s existing outsourcing deal with HCLTech was singed in 2019 and was worth $1.3 billion for seven years.
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Mumbai-based TCS has been providing business process outsourcing services in support of Xerox’s global finance and accounting organisation. Under the expanded agreement, TCS had said that it would consolidate Xerox’s technology services to better business outcomes, migrate complex legacy data centres to the Azure public cloud, deploy a cloud-based digital ERP platform to transform business processes and use generative artificial intelligence to help drive sustainable growth.
