HCLTech selected as primary IT partner for ODP
to support its business strategy
HCLTech, a leading global technology company, today announced
that The ODP Corporation (“ODP”) (NASDAQ:ODP), a leading provider
of products, services and technology solutions through an
integrated business-to-business (B2B) distribution platform and
omnichannel presence, has selected the company as its primary IT
partner. HCLTech will be the IT partner for ODP for end-to-end IT
operations and enterprise-wide digital transformation to support
ODP’s business strategy in its Office Depot, ODP Business Solutions
and Veyer business units.
As part of this agreement, HCLTech will leverage its automation
and artificial intelligence (AI) capabilities to enable efficient
IT operations with personalized and intuitive IT services. ODP will
also benefit from HCLTech’s vast experience in application
modernization and operating model transformation to further evolve
as an agile, product-centric IT organization.
“Consistent with our low-cost business model approach and new
four business unit structure, we’re excited to partner with
HCLTech, a world-class IT organization, to support our evolving IT
needs and priorities,” said Gerry Smith, Chief Executive Officer
for The ODP Corporation. “HCLTech’s extensive IT expertise provides
greater agility and differentiated IT capabilities to help
accelerate our transformation and positions us to expand services
to our customers, today and in the future.”
“The infusion of HCLTech’s digital transformation and IT
modernization expertise into The ODP Corporation’s robust
operations will create a stronger and more flexible foundation for
ODP amid constant technological advances and shifting consumer
demands and expectations,” said C Vijayakumar, Chief Executive
Officer & Managing Director, HCLTech. “We’re excited to
supercharge progress for ODP as they evolve their IT capabilities
and services and look forward to setting new industry benchmarks in
terms of operational and customer experiences.”
About HCLTech
HCLTech is a global technology company, home to 219,000+ people
across 54 countries, delivering industry-leading capabilities
centered around digital, engineering and cloud, powered by a broad
portfolio of technology services and products. We work with clients
across all major verticals, providing industry solutions for
Financial Services, Manufacturing, Life Sciences and Healthcare,
Technology and Services, Telecom and Media, Retail and CPG, and
Public Services. Consolidated revenues as of 12 months ending
September 2022 totaled $12.1 billion. To learn how we can
supercharge progress for you, visit hcltech.com.
About The ODP Corporation
The ODP Corporation (NASDAQ:ODP) is a leading provider of
products and services through an integrated business-to-business
(B2B) distribution platform and omnichannel presence, which
includes world-class supply chain and distribution operations,
dedicated sales professionals, a B2B digital procurement solution,
online presence and a network of Office Depot and OfficeMax retail
stores. Through its operating companies Office Depot, LLC; ODP
Business Solutions, LLC; Veyer, LLC; and Varis, LLC, The ODP
Corporation empowers every business, professional, and consumer to
achieve more every day. For more information, visit
theodpcorp.com.
ODP and ODP Business Solutions are trademarks of ODP Business
Solutions, LLC. Office Depot is a trademark of The Office Club,
Inc. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of
Veyer, LLC. Varis is a trademark of Varis, LLC. Grand & Toy is
a trademark of Grand & Toy, LLC in Canada. Any other product or
company names mentioned herein are the trademarks of their
respective owners.
Forward–looking Statement
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 integrated 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230106005069/en/
HCLTech Michelle Rico, Americas michelle.rico@hcl.com
Elka Ghudial, EMEA elka.ghudial@hcl.com
Devneeta Pahuja, India and APAC devneeta.p@hcl.com
The ODP Corporation Tim Perrott, Investor Relations
Tim.Perrott@theodpcorp.com
Danny Jovic, Media Relations danny.jovic@officedepot.com
ODP (NASDAQ:ODP)
Historical Stock Chart
From Jun 2024 to Jul 2024
ODP (NASDAQ:ODP)
Historical Stock Chart
From Jul 2023 to Jul 2024