HCL Technologies to acquire select IBM software products for $1.8 billion in an all-cash deal

HCL Technologies to acquire select IBM software products for $1.8 billion in an all-cash deal2Photo© firstpost.com

HCL Technologies to acquire select IBM software products for $1.8 billion in an all-cash deal

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New Delhi: Indian IT company HCL Technologies Friday said it will acquire select IBM software products for $1.8 billion (over Rs 12,700 crore) in an all-cash deal.

The transaction, subject to "completion of applicable regulatory reviews", is slated to close by mid-2019, HCL Technologies said in a statement.

The deal entails seven products in areas including security, marketing and collaboration solutions, and represents a total addressable market of more than $50 billion, HCL Tech said in a regulatory filing.