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December 07, 2018 09:52 PM | Technology

HCL Tech to acquire select IBM software products for $1.8 billion

HCL Tech will acquire select IBM software products for $1.8 billion. This is the largest acquisition by an Indian IT company

HCL Tech will pay $1,775 million in cash, including earn-out.

The deal will be funded largely through internal accruals, with $300 million of debt and the transaction will close by mid-2019, which is subject to regulatory reviews.

HCL Tech is the first Indian company to make a big foray into software products business.

HCL Tech will acquire 7 software products from IBM.
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