Volvo to Divest External IT Business; Outsource IT Infrastructure Operations to HCL Technologies

The Volvo Group VOLVY intends to divest its external IT business and to outsource IT infrastructure operations to HCL Technologies. The transaction is to be closed during the second quarter of 2016 and will provide both cost savings and a capital gain. "I am convinced that this will benefit personnel, suppliers and customers", says Jan Gurander, Volvo's CFO and Acting President and CEO. In conjunction with the closing, the Volvo Group's operating income and net financial debt are expected to be positively impacted by an amount of approximately SEK 900 M. In April, the Volvo Group announced its See full press release