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HCL buys 80% equity stake in US analytics firm

IANS  |  New Delhi 

Indian software Technologies on Thursday said it was buying 80 per cent equity stake of Corporation, a US-based analytics firm, in an all-cash deal.

and growth-focused private equity firm will own the remaining 20 per cent stake.

"The all-cash deal is valued at $330 million (Rs 2,145 crore). will own 80 per cent equity, while Sumeru 20 per cent stake in Actian," said the Noida-based IT firm in a regulatory filing on the

The Palo Alto-headquartered is a leader in hybrid data management, cloud integration and analytics that helps global enterprises to solve data challenges.

"Actian's acquisition will add intellectual property (IP) to our capabilities to enable digital transformation of global enterprises," added the filing.

Commenting on the buyout, said would play a critical role in enhancing the company's Mode 3 offerings in and platforms.

"Actian's products, combined with our offerings like Cloud Native, Digital and Analytics and IoT Works, will be a powerful proposition to harness the power of hybrid data," said Vijayakumar in a statement later.

Actian's flagship products are Vector, a columnar database; Data Connect, a hybrid integration platform; and X, a hybrid database for next generation operational analytics.

Recent customer wins by validate the potential of its offerings to help customers extract maximum value out of data.

Sumeru is partnering with to invest in due to growth opportunity in data-centric firms and leads with product innovation.

"Our shared vision, expertise, and global reach will enable businesses to realise the value of their hybrid data," said Sumeru in the statement.

Actian, however, will operate as a separate entity within the ecosystem, headed by

"The age of hybrid data and its management is upon us and is at the forefront. leaders recognise data as valuable asset and strive to leverage it at the speed of their business, no matter where it resides," De Souza said.

As majority stakeholder, will have higher on the board, while Sumeru's Managing Directors Kadifa and will join the board as Directors.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 12 2018. 23:48 IST
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