HCL board approves business restructuring

HCL board approves business restructuringThe board of directors of the HCL Infosystems has given its approval for business restructuring of the hardware and systems integration company.

The board approved the restricting plan on Friday that was recommended by the Finance Committee. The company said that the restructuring was aimed at making sure that the management has specific focus on each of the growth areas. The restructuring will also return in a leaner organization for the company's hardware solutions business.

Under the restructuring, the Hardware Solutions Business of the company will be transferred to HCL System Integration Limited, wholly owned subsidiary while the learning business will operate under another wholly owned subsidiary called HCL Learning Limited.

"Services business of the company will be moved to a wholly owned subsidiary namely HCL Care Limited," the company said.

The company said that telecom distribution business will remain under the HCL Infosystems and wholly owned subsidiary, Digilife Distribution and Marketing Services Limited will continue to look after the distribution business of non-telecom products. Meanwhile, the board also approved the merger of HCL Infocom with itself.

The shares of the company increased 7.7 percent after the board approved the restructuring plan.