1. Misys will be HCL’s preferred banking software partner and the two companies will jointly market Misys’ award winning banking and treasury & capital markets solutions in India, Singapore and Malaysia.  This is a landmark announcement enabling both companies to gain market share in fast growing economies. 

 

India is experiencing strong growth and analysts anticipate IT spend in the banking sector will continue to grow at up to 20% per year.  The majority of software decisions in India are won by local players, and HCL is one of India’s leading global IT services companies with a very strong footprint.  HCL and Misys will jointly market Misys’ award winning solutions, including Misys Opics, Misys Trade Innovation, Misys Summit and Misys Trade Portal.  This will enable Misys to increase its share in this fast growing market.  A similar arrangement is also in place for HCL and Misys to work together in Malaysia and Singapore. 

 

2. Misys and HCL together will create an upgrade solution centre to leverage world class professional services skills and technical tools in order to more rapidly migrate customers to the latest versions of Misys software. Misys is experiencing demand for its award-winning financial services products and working with HCL will enable Misys customers globally to benefit from rapid access to the very latest products.  Customers of Misys Opics upgrading to Misys Opics Plus and customers of Misys Midas upgrading to Misys Midas Plus will now have a streamlined upgrade path that is faster and more predictable in delivering tangible business results.

 

3. Misys has selected HCL as a preferred strategic development partner. Misys is establishing a flexible, global sourcing model for development and leveraging the expertise and capabilities of partners such as HCL, in addition to the growing Misys India development centre. Misys will collaborate with partners to accelerate the delivery of new products and more efficiently maintain existing products.  It is anticipated that this relationship will grow over time.  

 

Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies Ltd. comments: “This is an exciting day for HCL, we have selected Misys as our preferred software vendor because of their track record and deep understanding of the financial services software market.   Misys’ award winning solutions coupled with our proven business process expertise and market position make this a strong combination that will drive value for financial institutions in India and other key growth economies. In addition having Misys put their trust in us for services and development capability is a great endorsement of our strategy to deliver value add services for key global players.”

 

Mike Lawrie, Misys plc Chief Executive said: “This is another step in the re-building of Misys to deliver value for our customers in a faster and more efficient way. Partnering with HCL, who have an unrivaled track record and are clear leaders in their field, provides a significant opportunity to leverage their skills and proven expertise to gain access to one of the world’s great growth economies. The upgrade solution centre and flexible development resource will enable us to move more quickly and deliver greater value for customers and shareholders.” 

 

Bart Narter, Celent, said: “Misys can get more deployments and upgrades faster with more people trained on Misys products. Using Indian developers is something they are already pursuing with their existing center in India.  With respect to joint sales efforts Misys and HCL are wisely testing the waters in a contained geography and they can see whether these relationships can bear fruit.”

 

Geetanjali Bhatia,HCL
geetanjali.bhatia@hcl.in
Mob: +91 9811987765

 

Tanay Gogoi
tanay.gogoi@bm.com
Mob : +91 9873570081

 

MISYS ANALYST/INVESTOR ENQUIRIES
Alex Dee, Misys plc
Tel: +44 (0)20 7368 2336
Mob: +44 (0)7989 017 979
Email: alex.dee@misys.com

 

MEDIA ENQUIRIES
Josh Rosenstock, Misys plc
Tel: +44 (0)20 7368 2336
Mob: +44 (0)7921 910 914
Email: josh.rosenstock@misys.com  

Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success. In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world’s top 50 banks. In healthcare, Misys is a market leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries. We aspire to be the world’s best application software and services company, delivering results for the most important industries in the world.

 

Misys: Experience, Solutions, Results

Contact us today, visit: www.misys.com

 

HCL Technologies is one of India's leading global IT Services companies, providing software-led IT solutions, remote infrastructure management services and BPO. Having made a foray into the global IT landscape in 1999 after its IPO, HCL Technologies focuses on Transformational Outsourcing, working with clients in areas that impact and re-define the core of their business. The company leverages an extensive global offshore infrastructure and its global network of offices in 18 countries to deliver solutions across select verticals including Financial Services, Retail & Consumer, Life Sciences & Healthcare, Hi-Tech & Manufacturing, Telecom and Media & Entertainment (M&E). For the quarter ended 30th September 2007, HCL Technologies, along with its subsidiaries had last twelve months (LTM) revenue of US $ 1.5 billion (Rs. 6363 crores) and employed 45,622 professionals. For more information, please visit www.hcltech.com

 

HCL Enterprise is a leading Global Technology and IT enterprise that comprises two companies listed in India - HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India's original IT garage start-ups. Its range of offerings span Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 51,000 professionals of diverse nationalities, who operate from 18 countries including 360 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 www.hcl.in

 

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.