HCL Tech ties up with BT for Contact Centre services

HCL Technologies Limited has entered into an alliance with British Telecom to
provide contact centre services through the Apollo Contact Center operated by
British Telecom at Belfast, Northern Ireland. HCL Technologies would pay $11.5
million initially to acquire 90% equity stake in Apollo Contact Centre with
British Telecom holding the remaining 10%. HCL Tech would acquire the 10%
holding from BT at the end of the third year for a sum of $1.2 million. As part
of the agreement, the strategic alliance has been guaranteed a revenue of $30.24
million over the next three years.