The acquisition will be funded by HCL Technologies, making an equity contribution of US $ 164 million and debt of US $ 125 million. SEP and De Souza will contribute US $ 40 million and US $1 million, respectively, the filing said.
HCL Technologies said the acquisition is part of the Company’s Mode 3 strategy to augment its capabilities in the data management products and platforms. HCL would own high margin, recurring revenue IP business in data analytics, integration and management products.
At 10:40 am; HCL Technologies was trading 1.4% lower at Rs 997, after hitting intra-day high of Rs 1,020 on the BSE. A combined 1.06 million shares changed hands on the counter on the NSE and BSE so far. On comparison, the S&P BSE Sensex was up 0.49% at 34,267 points.
In past two trading days, HCL Technologies had outperformed the market by surging 7% against 0.65% rise in the benchmark index. It trading close to its 52-week high of Rs 1,042 recorded on January 24, 2018 and all-time high of Rs 1,058 touched on March 11, 2015 on the BSE in intra-day trade.