Thursday, July 24, 2008

Adaptec Sells Indian Operations

Milpitas-based Adaptec, a developer of storage and networking hardware, said today that it is a strategic agreement with HCL Technologies LImited, where HCL will buy Adaptec's India Technology Center. Financial terms of the deal were not disclosed. According to Adaptec, the strategic development agreement with HCL has HCl integrating Adaptec's Bangalore center into HCL's operations, and assumption of management of the Adaptec engineering programs at that location. Adaptec said that its ITC employees transferred to HCl will continue to work exclusively on Adaptec engineering projects. The number of Adaptec employees affected by the move were not disclosed.