HCLTech signs agreement worth $278 million with Germany’s apoBank

IT services company HCL Technologies (HCLTech) on Tuesday said it has expanded partnership with Germany’s largest cooperative primary bank Deutsche Apotheker- und rztebank eG (apoBank).

The estimated contract value of the deal is $278 million over a duration of 7.5 years, according to a regulatory filing.

“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,” a company statement said.