INSUBCONTINENT EXCLUSIVE:
The transaction, subject to regulatory reviews, is slated to close by mid-2019, HCL Technologies said.NEW DELHI: IT company HCL Technologies
Friday said it will acquire select IBM software products for over Rs 12,700 crore ($1.8 billion) 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
The deal entails seven products in areas including security, marketing and collaboration solutions, and represents a total addressable
market of more than $50 billion, HCL Tech said in a regulatory filing
"IBM and HCL Technologies today announced a definitive agreement under which HCL will acquire select IBM software products for $1.8
collaboration, a "highly profitable revenue stream" containing a significant annuity component, and access to over 5,000 large clients
Aggarwal told PTI that the deal also entails transfer of IBM employees, but did not divulge any numbers.The cash deal will be funded largely
through internal accruals, with $300 million of debt, HCL Tech said, adding that nearly half of the total amount will be paid at close of
The acquisition also reflects HCL's ambitions for software products business -- considered to be the next growth frontier for IT
Unica (for marketing automation), Commerce (for omni-channel eCommerce), Portal (for digital experience), Notes Domino (for email and
marketing and commerce which are strategic segments for HCL
Many of these products are well regarded by clients and positioned in the top quadrant by industry analysts," said C Vijayakumar, president
divest these select collaboration, marketing and commerce software assets, which are increasingly delivered as stand-alone products
At the same time, we believe these products are a strong strategic fit for HCL, and that HCL is well positioned to drive innovation and
growth for their customers."For the latest News Live Updates on Election Results from each assembly constituency in Madhya Pradesh,
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