HCLTech's arm to acquire Jaspersoft from Cloud Software Group for $240 mn

HCLTech's arm to acquire Jaspersoft from Cloud Software Group for $240 mn.

HCLSoftware, the software business division of HCLTech, said it will acquire Jaspersoft from Cloud Software Group for USD 240 million.

Jaspersoft is a business intelligence and reporting software provider and operates as a business unit of Cloud Software Group.

HCLSoftware said the acquisition will strengthen its Data and AI division, Actian, which has seen rising demand for its metadata management, data catalog and data governance solutions over the past five years.

The company said adding Jaspersoft will help Actian offer an end-to-end data management experience and expand its reach among a global developer community, including data engineers and architects building and deploying enterprise data platforms.

Jaspersoft provides embedded analytics and reporting tools that allow organisations to build pixel-perfect reports, interactive dashboards and visualisations. Its solutions are widely used in regulated sectors such as government, banking and financial services.

Marc Potter, Chief Executive Officer of Actian and Portfolio General Manager of HCLSoftware’s Data and AI division, said customers are seeking business intelligence tools that offer consistent analytics, flexibility and greater control as adoption of generative artificial intelligence grows.

“With Jaspersoft, Actian will be able to offer AI-powered embedded analytics with architectural flexibility, supporting high-volume reporting and interactive dashboards within customer-facing applications,” he said.

The acquisition is expected to be completed within six months of signing, the company said.

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