Leading IT firm, HCL Technologies managed to bag an outsourcing project worth $350-million from Readers' Digest Association (RDA), a leading media firm headquartered in New York after a year long contention.

The Indian IT services provider would offer applications development and maintenance (ADM) services and infrastructure support to the media firm by implementing advanced technological modules using cutting edge technology.

R Srikrishna, senior VP- North America, HCL Technologies, said that the deal would help to translate RDA's mainframe environment to its New Jersey data centre facility. Mr. Srikrishna said, "As advertising revenues dwindle, a lot of media and publishing companies are looking to cut costs and are considering outsourcing. We could look at how to deliver content digitally."

The first phase of project is expected to be completed in 18 months. The company would hire services of some RDA's employees for the business transformation process of company, having presence in 79 countries.

Al Perruzza, RDA senior VP for global operations, said, "IT is a key enabler to our business. We expect HCL to bring down cost of operations significantly, while improving services and bringing cutting-edge technology and capabilities to transform our IT functionality and service."