HCL Tech to buy Strong-Bridge Envision to boost digital transformation skills
HCL Technologies Ltd said on Wednesday it has agreed to acquire US-based Strong-Bridge Envision to enhance its digital transformation consulting capabilities.
India's fourth-largest software services exporter will pay $45 million (Rs 313 crore) for the acquisition, it said in a stock-exchange filing. Of the total, $42 million will be paid upfront while the remaining is linked to achievement of certain targets.
Strong-Bridge Envision, operated by Strong-Bridge Holdings Inc., has offices in Seattle, Denver, Atlanta, and New York City. It will become part of HCL’s global digital and analytics business HCL Mode 2 services.
Seattle-headquartered Strong-Bridge Envision is a digital consulting firm specialising in customer experience strategy, business transformation and change management. It has 200 employees and posted revenue of $45.6 million for 2018.
The company was formed after Seattle-based Strong-Bridge Consulting merged with Denver, Colarado-based Envision Business Consulting in 2017 to extend their consultancy and digital transformation capabilities and establish a footprint across North America.
“SBE will enhance our digital consulting offerings with their strong capabilities in digital strategy development, agile program management, business transformation and organizational change management,” said Anand Birje, corporate vice president and head of digital and analytics practice at HCL Technologies.
HCL has been one of the most prolific acquirers among India's IT services companies. It has struck almost a dozen acquisitions in India and overseas since 2015, according to VCCEdge, the data research arm of VCCircle. It sealed the biggest acquisition by an Indian IT company in December last year when it agreed to buy select software businesses from IBM Corp for $1.8 billion.
The company made three other acquisitions last year. It agreed to acquire Germany's H&D International Group for around $35 million, life sciences and consumer services provider C3i Solutions from US drugmaker Merck & Co. for $60 million and US-based Actian Corporation for $330 million.