HCL takes over IT-wing of Volvo for $138million

20 Oct 2015 | By Vaneet Randhawa
Building HCL, one acquisition at a time!

HCL Technologies has decided to buy Volvo Group's external IT business in an all-cash deal for $138 million (Rs.895 crore).

Volvo Group will be also outsourcing its IT infrastructure services to HCL Technologies for five years for an undisclosed value.

Volvo's acting President and CEO Jan Gurander contended: "I am convinced that this will benefit personnel, suppliers and customers."

In context: Building HCL, one acquisition at a time!

Introduction HCL Technologies: One company, many specialities

HCL Technologies is an international IT services company with its headquarters in Noida, UP, India.

HCL Technologies provides services like remote infrastructure management, IT consulting, engineering and R&D, and BPO services.

The company runs across many industries like consumer electronics, aerospace and defense, energy, automotive, public services, financial services, media, and entertainment, travel, hospitality to name a few.

Born out of HCL Limited

Originally a part of HCL Limited's research and development division, HCL Technologies emerged as an independent company in 1991 when HCL Limited ventured into the software services business.
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HCL acquires Capital Stream for $40 million

20 Feb 2008HCL acquires Capital Stream for $40 million

HCL Technologies acquired Capital Stream, Inc on 20 February 2008.

The acquisition was made in an all-cash deal for approximately $ 40 million.

US-based Capital Stream provided "comprehensive end-to-end lending and straight through processing solutions" to finance companies and commercial banks in North America.

It also offered "Prospecting and Sales, Credit Analysis, Due Diligence, Documentation and Portfolio Monitoring."

16 Aug 2008HCL gains foothold in UK with Liberta BPO

HCL Technologies declared that it had decided to take over Liberata Financial Services (LFS), a subject of Liberata, the UK-based company involved in business process outsourcing (BPO)

As a part of the contract, HCL will get 4 delivery centers in the U.K., with 800 employees who will gain access to "HCL domain knowledge and technical expertise."

The details of the agreement were not disclosed.

HCL'S strong global presence

The company has offices in 31 countries like China, Japan, Switzerland, Brazil, Mexico, South Africa, Singapore, UAE, Qatar, Belgium and USA etc.

17 Jul 2009HCL makes its presence felt in South Africa

Indian software company HCL Technologies Ltd. announced that its HCL AXON department was acquiring the SAP operations of UCS Group Ltd. in South Africa

The acquisition came through for an initial payment of $7.7 million in cash.

HCL Technologies contended that the acquisition would expand HCL AXON's enterprise-software capacities and increase the company's business presence, in the retail sector, in South Africa.

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Shining profile of HCL

HCL Technologies is one of the few Indian companies which featured on the Forbes Global 2000 list and is one of Asia’s Fab 50 Companies.

20 Oct 2015HCL takes over IT-wing of Volvo for $138million

2 Apr 2016HCL Technologies to acquire Geometric Limited

HCL Technologies announced its plans to acquire Geometric Limited through an equity-swap deal.

Geometric is India's leading "PLM consulting, mechanical engineering and manufacturing engineering services providers."

The acquisition doesn't include the 58% stake that Geometric has in Dassault Systemes.

HCL will issue "10 equity shares of Rs.2 each to Geometric shareholders for every 43 equity shares of Geometric of Rs.2 each held by them."