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.