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IBM's 7 software will buy HCL, deal in 12780 crores

Staff reporter, New Delhi
07/12/2018   0 Comments

IT company HCL Technologies (HCL) has announced the purchase of 7 American software products of the American company IBM. It has been stated in the statement issued by the company that the deal was made at $ 1.8 billion or around Rs. 12780 crore. This will be HCL's largest acquisition so far. This deal is expected to be completed by the middle of next year. Regulators will have to take permission for this. HCL's President and CEO, C-Vijaykumar said that the company will acquire software related to security, marketing and commerce. Their market is growing rapidly and it is included in HCL's Strategic Segment.

IBM is selling 7 software products, including BigFix, Unica, and Connexions. Bugfix is ??software related to Secure Device Management. Unica Marketing Automation and Connections is a workstream collaboration product. HCL's software service business grew by 21% in July-September quarter to Rs 8,711. On the other hand, IBM's software sales declined in the last few months due to which the difference in the company's quarterly income has also been made. IBM is also buying American software company Red Hat for $ 34 billion. Includes a Red Hat loan. The process of completing the deal is going on.

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