HCL Tech and apoBank to acquire German IT consulting firm gbs for 99k euros

HCL Technologies (HCL), a leading global technology company, and Deutsche Apotheker- und Ärztebank eG (apoBank), the largest cooperative primary bank in Germany, have signed with Atruvia AG an agreement to acquire IT consulting company Gesellschaft für Banksysteme GmbH (gbs), the Indian information technology firm said Wednesday.

The transaction, worth 99,000 euros, is expected to close in January 2022, subject to closing conditions, including regulatory approvals.

Post-closing, HCL will own 51 per cent, while apoBank will own 49 per cent stake of gbs. apoBank is currently a 10 per cent shareholder in gbs.

The all-cash transaction will require a merger clearance