Selected IBM products of $ 1.8 Billion acquired by HCL
Tech Desk| IT Company HCL Technologies (HCL) has announced the purchase of 7 American software products of the American company IBM. The company made a statement that the deal was made at $ 1.8 billion or around Rs. 12780 crore. This will be HCL's largest acquisition so far.
This deal is expected to be completed by the middle of next year. For this they have to take permission from Regulators. HCL's President and CEO, C-Vijaykumar said that the company will acquire software, security, marketing and commerce.
Their market is growing rapidly and it is included in HCL's Strategic Segment.IBM is selling 7 software products, including BigFix, Unica, and Connections. Bigfix is software related to Secure Device Management.
HCL's software service business grew by 21% in July-September quarter to Rs 8,711. On the other hand, IBM's software sales declined in the last few months due to which the difference in the company's quarterly income has also been made. IBM is also buying American software company Red Hat for $ 34 billion.
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