Thursday, October 28, 2010

HCL and Odessa Sign Strategic Partnership Deal

HCL Technologies Ltd. ("HCL") and Odessa Technologies, Inc. ("Odessa") have announced a strategic partnership to expand distribution channels, augment implementation capacity and increase speed-to-market for select installations of Odessa's end-to-end lease and loan management system, LeaseWave(R). The partnership establishes HCL as a preferred implementation partner and enables Odessa and its customers to leverage HCL's 64,000 member workforce with over 450 professionals experienced in implementing lending and leasing solutions throughout the world.

"Odessa has established itself as a market leader by delivering a proven lease management solution that successfully combines all the benefits of scalable state-of-the-art technology with mature functionality that traditionally was only found in legacy systems.  The combination of Odessa's world class equipment finance solution with HCL's worldwide distribution channels, implementation expertise and support services offers the equipment finance industry a comprehensive path for overhauling outdated technologies that have limited innovation, flexibility and growth." says Mike Pennell, Vice President, HCL.

"After 13 years of serving our industry, Odessa is now 150 people strong and continues to grow. But we also recognize that the industry is at a critical crossroads in terms of technology; and this presents an unprecedented opportunity for LeaseWave(R). Given this landscape, the HCL relationship removes potential scale-related constraints on select installations. It also allows Odessa to focus on key segments in the US industry while leveraging HCL's worldwide presence", says Madhu Natarajan, CEO, Odessa. 

About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First' which empowers our 64,557 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.7 billion (Rs. 12,565 crores), for the year ended as on 30th June 2010. For more information, please visit

About HCL Enterprise
HCL is a $5.3 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 71,000 professionals of diverse nationalities, who operate from 29 countries including over 500 points of presence in India. HCL has partnerships with several leading Global 1000 firms, including leading IT and Technology firms. For more information, please visit

About Odessa Technologies, Inc.
Odessa Technologies, Inc. is a software company exclusively focused on the leasing industry. The company is headquartered in Philadelphia, PA and employs a staff of 150 people. The LeaseWave(R) suite is a fully Internet-based family of products, providing an end-to-end lease and loan origination and portfolio management solution for equipment leasing and finance, vehicle leasing and finance and fleet management*->mpanies. The LeaseWave(R) suite is specifically engineered, to be configurable and customizable and accommodate even the most complex of business models, as ev}enced by its diverse customer base.

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