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Friday, 7 December 2018

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HCL Technologies to buy some of IBM's selected software products

HCL Technologies to buy some of IBM's selected software products





Indian IT firm HCL Technologies said in a statement on Friday that it would buy IBM's selected software products for $ 1.8 billion. The deal worth Rs 12,700 crore has been completed fully in cash.

HCL Technologies has said in its statement that in the event of the completion of all the appropriate regulatory reviews, the deal is expected to be completed by mid-2019. In the information given to the regulatory authority, HCL said that the deal includes seven products, includes security, marketing and collaboration solutions. Their total market value is more than $ 50 billion.

In its statement, the company said, "IBM and HCL Technologies have announced a deal under which HCL will buy some selected software products from IBM for $ 1.8 billion."

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