HCLTech Acquires HP's Communications Tech Assets for ₹1874 Cr

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HCLTech is purchasing assets from HP's Communications Technology Group for ₹1874 Crore, gaining IP, talent, and client relationships with top CSPs globally. Around 1,500 employees and 700 contractors are part of the deal. The deal is expected to close in 6-9 months.

HCL Tech News Today

HCLTech is set to acquire select assets from Hewlett Packard Enterprise's Communications Technology Group (CTG) for ₹1874 crore in an all-cash deal, enhancing its telecom vertical capabilities.

The deal excludes the purchase of shares and is expected to close in 6 to 9 months, subject to regulatory approvals and customary closing conditions. Approximately 1,500 employees and 700 contractors with expertise in telecom engineering from various countries will join HCLTech as part of the agreement.

Explore: Hcl Technologies Share Price

Strategic Implications

The acquisition provides HCLTech with industry-leading IP, engineering talent, and client relationships with major Communication Service Providers (CSPs) globally.

HCLTech will expand its service offerings in areas such as BSS, network applications, service cloudification, and data intelligence through the acquired assets.

Additional ReadHCL Technologies Ltd. – Everything You Should Understand

Growth Strategy

The acquisition aligns with HCLTech's growth strategy, focusing on the telecom sector and leveraging AI, IoT, and data-driven models to enhance efficiency.

C Vijayakumar, CEO of HCLTech, emphasised the significance of the transaction in strengthening the company's telecom practice and expanding its global footprint.

Additional ReadHCL Technologies Q4 Results

Financial Insights

HCLTech's Q4FY24 revenue growth was led by telecommunications, with a revenue share of 11.5%, totalling ₹28,499 crore and $3.43 billion in dollar terms. This acquisition is expected to further fuel its revenue growth in the sector.

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