Moneycontrol
Last Updated : Apr 12, 2018 09:21 PM IST | Source: Moneycontrol.com

HCL Tech, Sumeru Equity Partners to jointly acquire Actian Corp for $330 mn

While HCL will own 80 percent of Actian, the technology-focused Sumeru will own the remaining 20 percent.

Neha Alawadhi @alnehaa
 
 
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HCL Technologies and private equity firm Sumeru Equity Partners (SEP) will acquire Actian Corporation in an all cash deal for USD 330 million.

While HCL will own 80 percent of Actian, a hybrid data management and analytics provider, technology-focused SEP will own the remaining 20 percent.

The Palo Alto-based Actian will continue to operate as a separate entity within HCL Technologies, led by current CEO and President, Rohit De Souza, the fourth largest Indian IT services firm said in a statement.

HCL Technologies is the majority stakeholder in the acquisition and will accordingly, have majority representation on the Actian board of directors, with SEP Managing Directors George Kadifa and Sanjeet Mitra joining the board at the close of the deal.

“Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. Actian’s products when combined with HCL’s Mode 2 solution offerings – Cloud Native, Digital and Analytics, and IoTWorks, will be a powerful proposition to harness the power of hybrid data,” said C Vijayakumar, President and CEO, HCL Technologies.

Mode 3 refers to HCL’s IP-led partnerships, in products and platforms, while mode-2 refers to digital, IoT, analytics and cybersecurity offerings.

He further added, “Recent customer wins by Actian validate the potential of its offerings to help customers extract maximum business value out of data.”

Actian lists Bloomberg, Citibank, Deutsche Bank, rating agency FICO and Siemens as customers on its website.

“The combined force of HCL’s next- generation data management, data analytics, and products, platforms, and services; SEP’s experience in scaling enterprise software businesses; and Actian’s tradition of innovation in integration technologies will enable customers to tap into the disruptive potential of their data and deliver tangible business results,” said Actian CEO De Souza.

SEP, which has several technology companies in its portfolio, said the decision to partner with HCL in the joint venture was the lucrative opportunity of data analytics.

George Kadifa, SEP Managing Director, said: “We see an attractive market growth opportunity for data-centric companies, which is why SEP chose to partner with HCL Technologies in acquiring Actian – a company that leads with product innovation and a customer-focused approach.”
First Published on Apr 12, 2018 09:21 pm
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