HCLTech has announced its plans to acquire certain assets of long-time global tech powerhouse Hewlett Packard Enterprise’s (HPE) Communications Technology Group (CTG) for USD 225 million, approximately ₹ 1,874 crore. This strategic move aims to strengthen HCLTech’s presence in the telecom vertical by expanding its engineering services and leveraging the acquired intellectual property (IP), solutions, and talent at leading Communications Service Providers (CSPs) globally.
Key Points:
- Deal Value: USD 225 million (approximately ₹ 1,874 crore)
- Assets Acquired: Select assets from HPE’s Communications Technology Group (CTG)
- Employees and Contractors: Approximately 1,500 employees and 700 contractors with experience in telecom engineering services
- Global Presence: The acquired assets provide engineering telecom services for CSPs in Europe, Japan, and North America
- Expected Closure: The deal is expected to close in six to nine months, subject to regulatory approvals and customary closing conditions
- Benefits: The acquisition will enhance HCLTech’s telecom practice, expand its engineering services, and provide direct relationships with global CSPs, including 20 of the top-30 CSPs globally
This acquisition is expected to significantly bolster HCLTech’s capabilities in the telecommunications industry, allowing the company to offer a wider range of services to its clients and expand its reach globally.
Further reading:
[1] https://www.bajajbroking.in/blog/hcltech-acquires-hps-communications-tech-assets-for-rs-1874-cr
[2] https://elnion.com/2024/05/24/hcltech-bolster-telecom-presence-with-acquisition-of-key-hewlett-packard-enterprise-hpe-communication-technology-group-ctg-assets/
[3] https://www.business-standard.com/companies/news/hcltech-to-acquire-certain-assets-of-hpe-s-communication-tech-for-225-mn-124052301453_1.html
[4] https://www.goodreturns.in/news/hcltech-acquires-hpe-communication-tech-assets-011-1348433.html
[5] https://economictimes.indiatimes.com/tech/tech-bytes/hcltech-to-buy-hewlett-packards-communications-tech-assets-for-225-million/articleshow/110373625.cms
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