LONDON, 26 November 2007 – International law firm Milbank, Tweed, Hadley & McCloy LLP has advised leading global application software and services company Misys plc on a major new strategic partnership with HCL Technologies.
The partnership between Misys and HCL has three main elements:
- Misys will be HCL’s preferred banking software partner and the two companies will jointly market Misys’s award-winning banking and treasury & capital markets software in India, Singapore and Malaysia.
- The two companies will create an upgrade solution centre to migrate Misys’s customers more rapidly to the latest versions of its financial services software.
- Misys has selected HCL as a preferred strategic development partner. Misys is establishing a flexible, global sourcing framework for development in order to take advantage of the expertise and capabilities of partners such as HCL.
Milbank advised Misys on the development and implementation of its new sourcing framework and the upgrade solution centre.
Laurence Jacobs, head of Milbank’s European Strategic Sourcing and Technology Group, commented, “We are delighted to have been instructed by Misys to advise on this strategic relationship and to have worked closely with the team to execute the transaction against a very challenging timetable.”Suzanne Mercer, General Counsel of Misys Banking Division, said: “The Milbank team led by London-based associate Joel Harrison was tremendous. They understood our business goals and provided the support we needed to ensure that we met them.”
Milbank, Tweed, Hadley & McCloy LLP is a preeminent global law firm that for more than 140 years has provided innovative legal solutions in many of the world’s largest, most complex, “first-ever” corporate transactions and litigation. Our transactional expertise includes capital markets, corporate finance, project finance, acquisition finance and other major fields of law practice. Milbank litigation teams resolve disputes involving mergers and acquisitions, proxy battles, financings and securities offerings, intellectual property, white collar crime, and corporate restructurings, among others. Our clients range from prominent multinational financial, industrial and commercial enterprises to governments, institutions and individuals. The firm is headquartered in New York with offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, Singapore, Tokyo and Washington, DC.
Milbank’s Strategic Sourcing and Technology Group is widely recognised as a global leader in IT and business process outsourcing transactions. Since 1986, we have represented clients in more than 300 significant outsourcing and technology projects in over 90 countries, with a combined deal value well in excess of $100 billion. Industry publications consistently rank the Group in the #1 category in both London and New York, and several of our lawyers are individually recognised as leaders in their field.