Indian IT Firm HCL Tech To Acquire Select IBM Software Products

CORPORATE

IT company HCL Technologies Friday said it will acquire select IBM software products for USD 1.8 billion (over Rs 12,700 crore) in an all-cash deal.

The transaction, subject to “completion of applicable regulatory reviews”, is slated to close by mid-2019, HCL Technologies said in a statement.

IT company HCL Technologies Friday said it will acquire select IBM software products for USD 1.8 billion (over Rs 12,700 crore) in an all-cash deal.

The transaction, subject to “completion of applicable regulatory reviews”, is slated to close by mid-2019, HCL Technologies said.

With this acquisition, HCL Tech will get software products in areas of marketing, commerce, security and collaboration, a “highly profitable revenue stream” containing a significant annuity component, and access to over 5,000 large clients across industries and geographic markets, along with sales and marketing teams, the filing said.