HCL Technologies completes acquisition of select IBM products

HCL Technologies has completed the planned acquisition of select IBM products for security, marketing, commerce and digital solutions.

Last December, HCL Technologies had announced that it will acquire select IBM software products for 1.8 billion dollars (about ₹12,700 crore) in an all-cash deal.

"As part of the deal's close, HCL takes full ownership of the research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica," HCL said in a statement.

HCL also mentioned the introduction of HCL Software, a new division that will operate this enterprise software product business and meet customer demands.

"We are excited for the next phase of HCL Software business unit and are confident that these products will see good growth trajectory backed by our commitment to invest in product innovation coupled with our strong client focus and agile product development," said C Vijayakumar, President and CEO of HCL Technologies.

"In addition, we see tremendous potential for creating compelling 'as-a-service' offerings by combining these products with our traditional IT and next-gen services," he added.