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

09 Décembre, 2018, 00:44 | Auteur: Auguste Feret
  • HCL Technologies to acquire select IBM software products for $1.8 billion

HCL Technologies Friday said in a regulatory filing that it will acquire select IBM software products for United States dollars 1.8 billion (over Rs 12,700 crore) in an all-cash deal.

These software products represent a total addressable market of more than $50 billion, according to HCL.

The deal is expected to close in mid-2019 and is subject to regulatory reviews.

IBM products included in this acquisition will be - IBM Appscan, a security-focused application for identifying and managing vulnerabilities in mission-critical applications; IBM BigFix endpoint management and security software; IBM Unica, a cloud-based enterprise marketing automation software; and IBM WebSphere Commerce, an omni-channel commerce platform for B2C and B2B organizations.

In late October, IBM unveiled plans to acquire open source specialists Red Hat, in a blockbuster US$34 billion deal created to bolster the tech giant's hybrid cloud capabilities.

"IBM and HCL Technologies today announced a definitive agreement under which HCL will acquire select IBM software products for United States dollars 1.8 billion", it said. The acquisition also reflects HCL's ambitions for software products business - considered to be the next growth frontier for IT companies. "We're moving into working with software with some of the largest companies in the world".

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Some analysts said the deal did not make sense for HCL in the long term because it already has a partnership with IBM and the benefits from the acquisition did not justify the price.

Shiv Nadar. The HCL-IBM deal, which accounts for almost 22% of HCL Technologies's annualized revenue, is expected to close by mid-2019.

Gogia argues that most of the products in the HCL-IBM deal have been sold "as part of a large Strategic Outsourcing or a Managed Services deal and not as independent products". "Working with business partners has always been a core part of HCL's business philosophy".

IBM senior vice president of cognitive solution and research John Kelly said HCL is a "strong strategic fit" for the products.

"Over the last four years, we have been prioritising our investments to develop integrated capabilities in Artificial Intelligence (AI) for business, hybrid cloud, cyber-security, analytics, supply chain and blockchain, besides industry-specific platforms and solutions, including healthcare, industrial IoT and financial services", said the statement. Tech Mahindra Ltd acquired Satyam Computer Services for $1.23 billion in March 2012 while HCL Technologies bought the Axon Group for $731 million (Infosys was in the race but had made a lower bid at $678 million).

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