Indian IT services giant HCLTech has locked in a massive $1.1 billion mega-deal with a Europe-based Fortune Global 50 enterprise, which sources close to the development have identified as luxury automaker Mercedes-Benz.
The blockbuster announcement immediately captured investor confidence, sending HCLTech's shares surging nearly 6% on the BSE on Friday.
Spanning more than five years, the newly minted agreement is scheduled to run from July 2026 through December 2031, with a built-in option to extend the partnership for an additional five years. Under the terms of the contract, HCLTech will establish a cutting-edge, AI-driven operating model tasked with completely transforming and managing the German automaker's global digital workplace alongside its enterprise network operations.
The deal is among the largest AI-led agreements bagged by an Indian IT company this year, drawing attention to the fast-expanding scale of big enterprise investments in artificial intelligence. Sources said it's a notable change in the competitive IT landscape as HCLTech's rival Infosys had previously managed parts of this high-profile engagement.
Up to this point, both sides have maintained strict confidentiality around the partnership. HCLTech refrained from officially naming the client in its announcement, and a spokesperson for Mercedes-Benz declined to comment when contacted.