HCL Technologies to acquire select IBM software products for US$ 1.8 billion

By IndraStra Global News Team

By IndraStra Global News Team

Image Attribute: Front view of HCL Technologies' Noida SEZ Campus, India / Source: Wikipedia

Image Attribute: Front view of HCL Technologies' Noida SEZ Campus, India / Source: Wikipedia

On December 7, 2018, India's 3rd largest software services company HCL Technologies has announced that it is acquiring select IBM software products for US$ 1.8 billion — through a "definitive agreement" between the two companies. The acquisition which is the largest in the history of HCL, is expected to close by mid-2019 - subject to completion of applicable regulatory reviews. As a result, shares of HCL Technologies declined 4.54 percent in the early trade on Friday at Bombay Stock Exchange (BSE). At 09:22 hrs HCL Technologies was quoting at ₹966, down ₹45.95 (4.54 percent decline on the BSE).

The software products in scope represent a total addressable market of more than US$ 50 billion and include:
  • Appscan for secure application development,
  • BigFix for secure device management,
  • Unica (on-premise) for marketing automation,
  • Commerce (on-premise) for omni-channel eCommerce,
  • Portal (on-premise) for digital experience,
  • Notes & Domino for email and low-code rapid application development, and
  • Connections for work-stream collaboration.

HCL and IBM have an ongoing IP Partnership for five of these products.

"We continue to see great opportunities in the market to enhance our Mode-3 (Products and Platforms) offerings. The products that we are acquiring are in large growing market areas like Security, 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 & CEO, HCL Technologies.

He further added, "The large-scale deployments of these products provide us with a great opportunity to reach and serve thousands of global enterprises across a wide range of industries and markets. I am confident that these products will see good growth trajectory backed by our commitment to invest in product innovation coupled with our strong client focus and agile product development. In addition, we see tremendous potential for creating compelling ‘as-a-service’ offerings by combining these products with our Mode-1 and Mode-2 services".

"Over the last four years, we have been prioritizing our investments to develop integrated capabilities in areas such as AI for business, hybrid cloud, cybersecurity, analytics, supply chain and blockchain as well as industry-specific platforms and solutions including healthcare, industrial IOT, and financial services. These are among the emerging, high-value segments of the IT industry. As a result, IBM is a leader in these segments today," said John Kelly, IBM senior vice president, Cognitive Solutions and Research. "We believe the time is right to 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."

With reporting by HCL Newsroom
Name

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IndraStra Global: HCL Technologies to acquire select IBM software products for US$ 1.8 billion
HCL Technologies to acquire select IBM software products for US$ 1.8 billion
By IndraStra Global News Team
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