HCL Tech to Acquire Select IBM Software Products for Rs 12,700 Crore

HCL Tech to Acquire Select IBM Software Products for Rs 12,700 Crore

New Delhi: IT company HCL Technologies Friday said it will acquire select IBM software products for USD 1.8 billion (over Rs 12,700 crore) in an all-cash deal. The transaction, subject to "completion of applicable regulatory reviews", is slated to close by mid-2019, HCL Technologies said in a statement. The deal entails seven products in areas including security, marketing and collaboration solutions, and represents a total addressable market of more than USD 50 billion, HCL Tech said in a regulatory filing.

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