Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
Latest News

HCL Tech, SEP will acquire Actian Corp for USD 330 million

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.

Read EquityPandit’s Technical Analysis of HCL Tech 

Get Daily Prediction & Stocks Tips On Your Mobile