HCL Technologies and Sumeru Equity Partners (SEP), will acquire Actian Corporation for USD 330 million. The deal will be an all cash deal.
HCL will hold 80% stake of Actian and SEP will own the rest 20% stake. The Palo Alto-based Actian will continue to operate as a separate entity within HCL Technologies, led by current CEO and President, Rohit De Souza.
C Vijayakumar, President and CEO, HCL Technologies stated, “Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. Actian’s products when combined with HCL’s Mode 2 solution offerings – Cloud Native, Digital and Analytics, and IoTWorks, will be a powerful proposition to harness the power of hybrid data.”
Further, Mode 3 refers to HCL’s IP-led partnerships, in products and platforms, while mode-2 refers to digital, IoT, analytics and cybersecurity offerings.