HCL Tech completes acquisition of HCL Technologies SEP Holdings
HCL Technologies wholly-owned subsidiary, HCL America has acquired the balance 19.6% stake in HCL Technologies SEP Holdings Inc., the sole parent entity of the operating company, Actian Corporation.
In HCL Technologies SEP Holdings, HCL already owns an 80.4% stake in the company and is buying out the minority partner who holds the balance 19.6% stake in the company. This buy out of the remaining stake is as per the JV agreement with the JV partner.
The acquisition is part of HCL’s Mode 3 strategy to augment its capabilities in the data management products and platforms.
The acquisition will support HCL in increasing its presence in a high margin, recurring revenue IP business in data analytics, integration and management products.
Further, this would enable HCL to reach our global enterprises and harness the value of hybrid data by a combined proposition of HCL’s Mode 2 offerings like Digital Engineering, Cloud Native, Digital and Analytics and IoT Works with Actian’s products.
The transaction values to $100.2M for the remaining 19.6% ownership of HCL Technologies SEP Holdings. HCL will own 100% of HCL
Technologies SEP Holdings.
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