IT firm HCL Technologies bought 80% of US-based analytics firm
Written by : SMTV24x7 | Fri, Apr 13, 2018, 12:59 AM
New Delhi, April 13: Indian software major HCL Technologies on Thursday said it was buying 80 percent equity stake of Actian Corporation, a US-based analytics firm, in an all-cash deal.
US-based technology and growth-focused private equity firm Sumeru Equity Partners will own the remaining 20 percent stake.
"The all-cash deal is valued at $330 million (Rs 2,145 crore). HCL will own 80 per cent equity, while Sumeru 20 per cent stake in Actian," said the Noida-based IT firm in a regulatory filing on the BSE.
The Palo Alto-headquartered Actian is a leader in hybrid data management, cloud integration, and analytics that helps global enterprises to solve data challenges.
"Actian's acquisition will add an intellectual property (IP) to our capabilities to enable the digital transformation of global enterprises," added the filing.