HCLTech Acquires Some Assets Of Communications Technology Group From HPE
The acquisition got completed and became effective from Dec. 1, says HCL Technologies.
HCL Technologies Ltd. has acquired certain assets of Communications Technology Group from Hewlett Packard Enterprise, according to an exchange filing on Monday.
The closure of the deal formally expands HCLTech's long-standing partnership with HPE and strengthens its engineering services capabilities, the IT services firm said.
"By combining our engineering strengths with CTG's advanced capabilities, we will enhance our partnerships with leading global CSPs, accelerate the growth of our digital services and expand our global footprint," Anil Ganjoo, chief growth officer of HCLTech's technology, media and telecommunications industries, said.
With the deal, the company's footprint in the communication service providers' market will now extend across North America, Latin America, Europe and Asia Pacific, including Japan.
The IT services provider, which had informed the stock exchanges about the deal in May, said the acquisition got completed and became effective from Sunday. However, the company did not mention the deal value.
The Indian IT consulting firm has gained a portfolio of service offerings, including "industry-leading" intellectual property, solutions and systems integration across business support systems, network applications, service cloudification and data intelligence, according to the filing.
The deal established direct relationships with 20 out of the 30 top global communication service providers. It strengthened the CSP domain practice by integrating over 1,500 product engineering specialists from CTG, supporting the CSPs' nearshore delivery needs across countries, including India, China and Japan.
In November, HCLTech announced the HCLTech AI Force extension for GitHub Copilot on the Visual Studio Marketplace, an artificial intelligence developer tool. This integration aims to streamline software development workflows, enhance developer flexibility and optimise code performance.
Shares of HCLTech closed 1.18% higher at Rs 1,870.70 apiece on the BSE, compared to a 0.56% advance in the benchmark Sensex.
