Hcl Acquires Us Infotech Services Firm

The Shiv Nadar-promoted HCL Technologies has acquired 100 per cent stake in the US-based IT services company Gulf Computers Inc in a multi-million dollar deal to expand its client base in America.

The buyout was effected with the payment of the first tranche of $8 million. A second tranche of $1.75 million is to be paid after six months and the balance would be done in three years, HCL Tech said in a statement today.