New Delhi, July 17 -- HCLTech is strengthening its financial services business on two fronts, expanding a long-standing partnership with US insurer Guardian Life Insurance Company of America through an AI-led transformation deal while launching a new Global Technology Centre in Gujarat's GIFT City to accelerate AI innovation for global banking and financial services clients.
The IT services company has signed a new seven-year agreement with Guardian that will see it acquire the insurer's India global capability centre (GCC) for $10.5 million in an all-cash transaction expected to close on August 1.
As part of the deal, HCLTech will acquire 100% of Guardian India Operations, bringing nearly 2,000 employees into the company. The team will operate as a dedicated strategic business unit supporting Guardian's technology, engineering and operations functions across its insurance, retirement, wealth management and employee benefits businesses.
The agreement also significantly expands the companies' AI collaboration. HCLTech will deploy its AI Force platform to build agentic AI capabilities, modernise data and applications, and jointly develop AI-powered products and intellectual property for the insurance industry.
The transaction reflects a growing trend among IT services firms to deepen strategic client relationships by acquiring captive GCCs while securing long-term AI and digital transformation contracts.
According to HCLTech's regulatory filing, Guardian India generated revenue of Rs.578.8 crore in FY26, up from Rs.483.2 crore a year earlier.
"Together with HCLTech, we are strengthening how we operate to drive greater consistency and scalability while continuing to invest in the capabilities that differentiate Guardian," said Steve Rullo, Chief Digital and Technology Officer at Guardian.
Separately, HCLTech also announced the launch of its Global Technology Centre in GIFT City, Gujarat, expanding its AI footprint in India's emerging international financial hub.
The centre will focus on developing AI-led technology solutions for global financial services clients while serving as a hub for engineering, innovation and talent development.
As part of the initiative, HCLTech signed memoranda of understanding with the Indian Institute of Technology (IIT) Gandhinagar and Gujarat Technological University (GTU) to strengthen industry-academia collaboration. The partnerships will support research in AI for financial services, software engineering and digital skills development, providing students and researchers with opportunities to work on enterprise technology projects.
"GIFT City offers world-class infrastructure, and we are pleased to establish our presence in the state to engineer the future of financial services clients with innovative AI solutions," said C Vijayakumar, Chief Executive Officer and Managing Director, HCLTech.
Taken together, the announcements underline HCLTech's broader strategy of combining AI-led transformation, GCC expansion and talent development to strengthen its position in the global financial services technology market. As enterprises increasingly seek long-term AI modernisation partners, IT services firms are moving beyond traditional outsourcing models towards deeper operational integration and co-innovation with clients.
Published by HT Digital Content Services with permission from TechCircle.