- HCL Technologies acquires an Australian-headquartered IT solution company DWS Limited.
- HCL Technologies acquired DWS Limtied for $116 million in cash.
- The acquisition will help HCL Technologies' enhancing its digital services in regions like Australia and New Zealand.
- The deal is likely to close in December 2020.
Indian Multinational IT company, HCL Technologies' has acquired an Australian-headquartered IT solution company, DWS Limited.
HCL Technologies acquired DWS Limited for $116 million (approx Rs 850 crore) in cash. The cash deal will see HCL Technologies, paying $0.90 per share for DWS, plus debt notably higher than the 21st September trading price.
With the acquisition, DWS Limited will be a wholly-owned subsidiary of IT Company HCL Technologies. The acquisition of DWS Limited will help HCL Technologies in enhancing its digital services in regions like Australia and New Zealand.
According to the reports, The deal is likely to close in December 2020, including regulatory approvals and legal work.
After the acquisition announcement, HCL Technologies today's share price increased Rs 30 per share (+3.58%) Currently, HCL Technologies is trading at Rs 839 per share.
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DWS Limited is an Australian-headquartered IT Solution company that provides IT services, including consulting services, such as custom application development and project management, and digital solutions, such as data automation and design services. DWS founded in 1991 by the current CEO, Danny Wallis.
“We are excited for this expansion of HCL Technologies in Australia and New Zealand and are confident that our combined strengths will further accelerate the digital transformation journeys of our clients and innovations for their end customers,” said Michael Horton, executive vice president and country manager (Australia & New Zealand), HCL Technologies.
“DWS has forged a sterling reputation, powered by highly talented consultants who enable organizations to be at the cutting edge of technology. We look forward to welcoming the DWS team to HCL and creating enhanced global learning and career opportunities for them," he added.
HCL Technologies comes in one of the top IT companies globally, The company takes pride in its diversity, social responsibility, sustainability, and education initiatives. As of 12 months ended June 30, 2020, HCL has a consolidated revenue of US$9.93 billion and its 150,287 ideapreneurs operate out of 49 countries.
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