NEW DELHI (AFX) - HCL Technologies is close to forging a joint venture with Japanese technology major NEC to provide integrated IT solutions, Economic Times reported, citing unidentified sources.

It said it will be a 51:49 joint venture, with HCL holding the majority stake.

The agreement is expected to be signed early next month, by when the name of the CEO will also be decided, the newspaper said, adding that the CEO will be picked from HCL.

HCL spokesperson Saurav Adhikari refused to confirm or deny the partnership, the report said.

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