HCL Technologies will purchase some software assets from U.S.-based IBM Corp for $1.8 billion, according to a statement by the companies on Friday. This makes it the largest purchase ever by an Indian IT services firm.
The software products in scope represent a total addressable market of more than $50 billion and include:
- Appscan for secure application development,
- BigFix for secure device management,
- Unica (on-premise) for marketing automation,
- Commerce (on-premise) for omni-channel eCommerce,
- Portal (on-premise) for digital experience,
- Notes & Domino for email and low-code rapid application development, and
- Connections for workstream collaboration.
“We continue to see great opportunities in the market to enhance our Mode-3 (Products and Platforms) offerings. The products that we are acquiring are in large growing market areas like Security, Marketing and Commerce which are strategic segments for HCL,” said C Vijayakumar, President & CEO, HCL Technologies.
HCL and IBM have an ongoing IP Partnership for five of these products and the transaction is expected to close by mid-2019.