HCLSoftware, the software business division of Indian IT services firm HCLTech, plans to acquire Paris-based Zeenea, a data catalogue and governance solutions company for €24 million.
The acquisition, likely to be completed by September, will enhance its data & analytics business (Actian), HCLSoftware said on August 9.
“Metadata management is becoming critical for our customers to accelerate their GenAI initiatives across business functions,” said Kalyan Kumar, Chief Product Officer, HCLSoftware.
Zeenea will further accelerate the growth in the data and analytics space for HCLSoftware. It will also enable HCLSoftware to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage and better leverage data in their data engineering and GenAI journeys, he said.
Zeenea provides intelligent data discovery platform that supports metadata management applications from search and exploration to data catalogue, lineage, governance, compliance and enterprise data marketplace.
HCLSoftware Actian Data Platform has seen strong growth in hybrid data management and integration over the last few years, the company said in a statement.
Zeenea is powered by adaptive knowledge graph that enables organisations to democratise data access and generate a 360-degree view of their assets and the relationships between them.
"Incorporating Zeenea’s capabilities with HCLSoftware will deliver a differentiated solution for customers," Zeenea CEO and co-founder Luc Legardeur said.
Combining HCLSoftware data analytics, database and data management solutions with Zeenea’s data catalogue and enterprise data marketplace will offer customers a tailored approach to data management, he said.
HCLTech’s Q1FY25 net profit rose 20 percent to Rs 4,257 crore from the year-ago period.
Following the announcement, HCLTech was trading at Rs 1,595, were up 2.4 percent from the previous close.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
