Milbank Tweed Hadley & McCloy's City arm has won worldwide software company Misys as a new client, acting on a major new strategic partnership with Indian IT company HCL Technologies.

Misys has entered into a preferred relationship with HCL and the pair will market Misys' banking and capital markets software in India, Singapore and Malaysia. The two companies will also create a centre to upgrade Misys clients to improved software packages.

Milbank head of European strategic sourcing and technology Laurence Jacobs and associate Joel Harrison led the team advising Misys on the deal.

The Manhattan-based law firm was approached to act in September and the deal was turned around on a tight timescale. The approach came out of contacts the firm has at Misys and Milbank was not asked to conduct a formal pitch even though it is the first time it has been instructed by the company.

HCL was advised by its in-house lawyers on the deal.

Misys is one of the largest industry-specific software providers, catering for the banking and healthcare industries and employing more than 5,500 staff worldwide.

Jacobs said: "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."

Misys banking division general counsel Suzanne Mercer 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."

Historically Misys is understood to have used firms including Allen & Overy, Berwin Leighton Paisner, Eversheds, Pinsent Masons and Wragge & Co.