M&A

M&A

HCLTech to buy communications tech group assets from HP for $225-M

MoneyControl  

Noida-headquartered IT services company HCLTech Ltd will be buying Communications Technology Group (CTG) assets of Hewlett Packard Enterprise (HPE) for USD 225 million (about INR 1,874 crore) in an all-cash deal. The transaction is expected to close in 6 to 9 months.As part of the agreement, about 1,500 employees of CTG with telecom industry experience will transfer to HCLTech in Spain, Italy, India, Japan and China.HCLTech will gain a portfolio of service offerings that includes IP, solutions and systems integration around Business Support Systems (BSS), network applications, service cloudification and data intelligence. These capabilities will also complement HCLTech’s existing digitised services with artificial intelligence (AI), Internet of Things (IoT), and data-driven models; enhanced efficiency; as well as frictionless integration.The Telco Solutions group, which sits within HPE Aruba Networking, is a leader in OSS, orchestration and assurance -- as well as public 5G SDM and private 5G networking -- and will continue to deliver value for HPE's telco customers and partners.