Olympus Corporation (Olympus) is a global medical technology company.

The IT major said that it will leverage its global leadership in engineering and research and development (R&D) services along with artificial intelligence (AI) based solutions to provide speed and scale to Olympus’ global product development journey.

To further strengthen this partnership, the firm will establish a dedicated product innovation center in Hyderabad, India to serve Olympus’ operations across US, Europe, Middle East and Africa. The center is expected to commence operations by July 2024 and boost Olympus business expansion plans and drive advancements in medical technology.

HCL Tech and Olympus share a decade-long partnership in core engineering and R&D, spanning product engineering, software engineering, product sustenance, risk and regulatory services. HCL Tech serves Olympus from its global delivery centers in India and Vietnam, said the firm.

Meanwhile, the IT giant has signed a deal worth $278 million with Germany's largest cooperative primary bank — Deutsche Apotheker-und Ärztebank eG (apoBank).

HCLTech will accompany apoBank with an outcome-oriented managed services model that delivers resilient, scalable, high quality and compliant Digital Foundation services, enabling apoBank to deliver fast and secured banking services to its customers, the firm stated in the press release.

Sudip Lahiri, executive vice president and head of financial services, Europe, HCLTech, said, “apoBank became a HCLTech client in 2021 through a partnership in application services. The new contract will result in a significant expansion in the relationship. We look forward to working with apoBank to help them serve their customers by leveraging our comprehensive portfolio of managed infrastructure and cloud services and our longstanding experience with Avaloq,”

HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).

The IT major’s consolidated net profit declined 8.37% to Rs 3,986 crore in Q4 FY24 as against Rs 4,350 crore reported in Q3 FY24. Revenue from operations rose marginally to Rs 28,499 crore in the March quarter from Rs 28,446 crore recorded in the preceding quarter of FY24.