Indian information technology (IT) services firm HCL Technologies said it has launched a new software business unit with the close of the acquisition of select IBM software products that it had announced last year in December.
According to data from financial information provider Refinitiv, the $1.8 billion deal, which includes products for security, marketing, commerce and other digital solutions, is the largest ever by an Indian tech company.
HCL in a statement has said that, with the close of the transaction, it will take full ownership of research and development, sales, marketing, delivery and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica.
It further said that the select IBM products will jointly form a division called HCL Software Business Unit that will operate under the company's Mode 3 (products and platforms) business. These select IBM products have already delivered more than 340 partner releases and 90 HCL releases, including products such as Informix, Domino and Workload Automation.
“We see tremendous potential for creating compelling ‘as-a-service’ offerings by combining these products with our traditional IT and next-gen services,” C Vijayakumar, president and chief executive, HCL Technologies, said.
The deal also includes some IBM employees joining HCL Technologies.
Last month, in an interview with TechCircle, Sanjay Gupta, executive vice-president and programme director of HCL's initiative called New Vistas, said that the company was using cloud to maintain a stable workforce.
The homegrown IT services company partnered Boston-based software firm Parametric Technology Corporation last month to create an Internet of Things (loT) solution called Realtime Manufacturing Insights (RMI).
The companies had said in a joint statement that RMI is an enabler for Industry 4.0 manufacturing organisations that need near real-time visibility into the availability, performance, and quality of any given tool, equipment, or machine that is part of the manufacturing process.