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.
