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In biggest Indian IT deal, HCL Tech to buy $1.8 billion of IBM software


By Sankalp Phartiyal and Krishna V KurupMUMBAI/BENGALURU (Reuters) - HCL Technologies will buy some software assets from U.S.-based IBM Corp for $1.8 billion, the companies said on Friday, marking the largest purchase ever by an Indian IT services firm.HCL Tech will buy seven software platforms from IBM, giving it a larger clientele and allowing it to step up its presence in areas such as commerce, security, and marketing - an over $50 billion market opportunity that the Indian firm said would help boost profits.The deal will also help HCL collect additional revenue of about $650 million in ...

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First Published: Fri, December 07 2018. 16:48 IST