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iflex-Citi + HCL-CA Development

November 14, 2007

HCL Technologies and CA Inc. has announced an agreement to establish a strategic partnership in which HCL will assume all research and product development connected with CA threat management security business. CA will retain all sales and marketing functions.

The goal of the strategic partnership is to grow CA’s threat management business by combining the strengths of both organizations. The company and CA will achieve goal alignment and financial targets through revenue sharing. The annual revenue of CA’s threat management security business is in excess of U.S. $100 million.

i-flex Solutions just a while ago informed us that it has completed the rollout of FLEXCUBE, its flagship banking product, in 67 countries within Citi’s markets and banking division. After careful evaluation of the market, Citi selected FLEXCUBE in 2000 to replace its older legacy banking system.

This ambitious implementation is the culmination of seven years of work. With the completion of the rollout, FLEXCUBE now supports citi markets & banking’s extensive, complex operations in the U.S., Europe, Africa, Asia-Pacific and Latin America. With offices in countries including the UK, Germany, Italy, Japan, Australia, Singapore and Hong Kong, FLEXCUBE technology will help the firm manage ODA, loans, treasury, cash and liquidity management products.

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