IT services company HCL Technologies said it has inked a new five-year contract with asset management firm Aegon for its digital transformation.

“The application services deal will see HCL continue as Aegon’s digital transformation partner, helping to accelerate innovation by establishing and managing a new multi-vendor ecosystem,” HCL Tech said in a regulatory filing.

The statement, however, did not divulge the size of the contract.

“ HCL will also help implement an agile delivery model to reduce Aegon’s time to market and introduce greater efficiencies through improved application life cycle management and automation,” the statement added.

HCL has been a strategic IT services partner to Aegon Netherlands since 2004. During that time, it delivered application services and partnered in transforming Aegon’s data and analytics capabilities.

The Hague-based company, which serves about 29 million customers and employs over 28,000 people worldwide, wants digital scale up to improve customer self service and cement its position in the market. Aegon is also into multinational life insurance and pensions.

“Our business strategy is centred on digital-first, which is paramount to our ability to drive service innovation, attract new customers and to drive efficiencies, Anke Schlichting, CTO (chief technology officer) at Aegon said.

HCL Tech made headlines last week as it announced to acquire select IBM software products for over Rs 12,700 crore in an all-cash deal, marking the largest purchase by an Indian IT services company till date.

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