HCL Tech completes acquisition of select IBM products

Indian IT company HCL Technologies Monday said it has completed the planned acquisition of select IBM products for security, marketing, commerce, and digital solutions.

Last December, HCL Technologies had said it will acquire select IBM software products for USD 1.8 billion (over Rs 12,700 crore) in an all-cash deal that it expected to close by mid-2019 after completion of applicable regulatory reviews.

In a statement on Monday, HCL Technologies announced the close of the said acquisition.

"As part of the deal's close, HCL takes full ownership of the research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica," the statement said.

HCL also said it is formally introducing HCL Software, a new division that will operate this enterprise software product business and meet customer demands.