HCL Technologies fully acquires UK firm and promoter group company
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New Delhi: Information technology (IT) major HCL Technologies Ltd on Wednesday announced acquisition of UK’s Point to Point Ltd and Point to Point Products Ltd for £8 million (about Rs.78 crore).
The company also fully acquired HCL Training and Staffing Services Pvt. Ltd for Rs.2.35 crore.
In a BSE Ltd filing, HCL Technologies announced “acquisition of 100% stake in Point to Point Ltd and Point to Point Products Ltd (jointly referred to as P2P), the companies incorporated in the UK and being a niche provider of complex workplace engineering services in the UK, for cash of £8 million”.
It further said it has also fully acquired its promoter group firm HCL Training and Staffing Services, a company incorporated in India, engaged in the business of rendering of training in IT and IT-enabled services.
“This acquisition will enable HCL Technologies to supplement hiring of trained resources... the transaction is being done at a cash consideration of Rs.2.35 crore,” the company said. PTI