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HCL to buy some IBM software assets for $1.8 billion; shares fall

Reuters 

By Krishna V Kurup(Reuters) - Indian software services firm HCL Technologies agreed to buy some software assets from International Business Machines Corp for $1.80 billion to help it compete better with bigger rivals such as TCS and Infosys Ltd.HCL shares fell as much as 7.7 percent to their lowest in five months.Some analysts said the deal did not make sense for HCL in the long term because it already has a partnership with IBM and the benefits from the acquisition did not justify the price.The acquisition, if completed, will be the largest-ever acquisition by an Indian technology company, ...

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First Published: Fri, December 07 2018. 12:13 IST
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