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HCL Technologies subsidiary boosts stake to fully own Actian Corporation’s parent

It did this by buying out the minority partner reportedly for $100.2 million (Rs 746.8 crore).

December 30, 2021 / 01:31 PM IST
HCL Tech | Representative image

HCL Tech | Representative image

HCL America, the wholly-owned subsidiary of HCL Technologies, has acquired the balance 19.6 percent stake to own all shares in HCL Technologies SEP Holdings Inc, which is the sole parent company of Actian Corporation. 

It did this by buying out the minority partner reportedly for $100.2 million (Rs 746.8 crore).

As part of HCL Technologies’ strategy to enhance data management products and platforms capacities, the deal will go towards helping the company solidify its presence globally.

Notably, the data management space is replete with high-margin, recurring-revenue intellectual property business in data analytics.

 
Moneycontrol News
first published: Dec 30, 2021 01:31 pm
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