HCL to acquire IBM software products in deal worth $1.8bn
Global software giants IBM and HCL announced today that they have signed an agreement worth $1.8bn whereby HCL will purchase a rand of software products.
HCL Technologies is an Indian company working across various sectors and functions including supply chain management and enterprise software. It operates out of 43 countries and its most recently reported revenue stands at $8.2bn.
In a transaction expected to close mid-2019, HCL will buy products including Appscan, for secure application development; Bigix, for device management; Unica, for marketing automation; Commerce, which enables omnichannel trade including ecommerce; Portal which enhances digital experiences; and Notes & Domino, a client-server software platform.
C Vijayakumar, President and CEO of HCL Technologies, said: “We continue to see great opportunities in the market to enhance our Mode-3 (Products and Platforms) offerings. The products that we are acquiring are in large growing market areas like Security, Marketing and Commerce which are strategic segments for HCL. Many of these products are well regarded by clients and positioned in the top line quadrant by industry analysis.”
John Kelly, SVP Cognitive Solutions and Research, IBM, added: “Over the last four years, we have been prioritising our investments to develop integrated capabilities in areas such as AI for business, hybrid cloud, cybersecurity, analytics, supply chain and blockchain as well as industry-specific platforms and solutions including healthcare, industrial IoT and financial services.”