1. Home
  2. Business
  3. HCL Technologies to purchase IBM Software Products for $1.8 bn in all-cash deal

HCL Technologies to purchase IBM Software Products for $1.8 bn in all-cash deal

By Team Pardaphash 
Updated Date

Software major HCL Technologies today made it clear that it will buy IBM Software Products for $1.8 billion (Rs 12,700 crore) in an all-cash deal.

Also Read :- Tata, Airbus sign Rs 20,000 crore deal for C-295 military aircraft in India: Report

“The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews,” said the Noida-based company in a mandatory filing on the BSE.

The software products represent an addressable market of over $50 billion and include Appscan for secure application development, BigFix for secure device management, Unica for marketing automation, Commerce for omni-channel eCommerce, Portal for digital experience, Notes and Domino for e-mail and low-code rapid application development and Connections for workstream collaboration.

Both the firms have an ongoing IP (Intellectual Property) partnership for five of these products.

“We see great opportunities in the market to enhance our mode-3 (products and platforms) offerings. The products being acquired are in large growing market areas like security, marketing and commerce which are strategic segments for us,” added the filing.

Also Read :- Record high for markets, Sensex tops 60,000, nifty near 18,000 mark

For the latest news and reviews, follow us on Facebook and Twitter ...