HCL Technologies (HCL Tech) on Thursday said that it has signed a multiyear managed public cloud services agreement with German technology and high-tech industry giant Siemens AG to modernise its IT landscape worldwide and power its cloud-led digital transformation.

The announcement led to its shares hitting a 52-week high. The scrip hit a peak of Rs 1,256.80 during intra-day trades and later settled at Rs 1,254.15, a gain of 1.49 per cent or Rs 18.45 on the news.

HCLTech said that it will focus on automating the public cloud environment while adhering to Siemens’ high security standards. The IT firm will migrate and operate Siemens’ infrastructure to ensure that its cloud resources are optimized, secure and scalable, allowing the company to focus on its core business.

“In HCLTech, we found a partner who can help us innovate and scale effortlessly on a strong cloud foundation, strengthen our agility and competitiveness and help us maximize business value from our cloud transformation initiatives,” Anne Hadler, head of IT governance and cross functional services, Siemens AG said.

HCLTech added that its `CloudSMART’ service aggregates the best cloud offerings and capabilities into a comprehensive, fully integrated consultancy and delivery platform designed to respond to an enterprise’s specific needs and maximize value.

“Germany is a strategic market for HCLTech and our engagement with Siemens is testament to our continued growth in the region,”Ashish K Gupta, chief growth officer, Europe and Africa, diversified industries, HCLTech, said.