IT services major HCL Technologies on Friday said it will acquire Hungarian firm Starschema for $42.5 million (about Rs 315 crore).
The strategic acquisition will bolster HCL Technologies' capability in digital engineering -- driven by data engineering -- and increase its presence in Central and Eastern Europe.
IT services major HCL Technologies on Friday said it will acquire Hungarian firm Starschema for $42.5 million (about Rs 315 crore).
HCL Technologies has signed a definitive pact for the acquisition of Budapest-based Starschema, which provides data engineering services, according to a regulatory filing.
The strategic acquisition will bolster HCL Technologies' capability in digital engineering -- driven by data engineering -- and increase its presence in Central and Eastern Europe, it added.
Founded in 2006, Starschema provides consulting, technology and managed services in data engineering to Global 2000 companies in the US and Europe. Its revenues stood at $13.6 million for the year ended December 31, 2020.
Over 200 engineers are part of the transaction, the filing said.
The acquisition combines Starschema's high-value capabilities and data-focused expertise with HCL Technologies' existing presence in industry segments undergoing data-driven transformation.
In addition, HCL Technologies will strengthen its position in data engineering, which is an integral part of the company's digital engineering capabilities and next-generation offerings, the filing said.
Starschema founder and CEO Tamas Foldi said joining HCL will enable the company to keep its strategic focus and expand its data engineering capacity to provide a greater breadth and depth of services to clients.
"As part of HCL's full spectrum of technology services, we will leverage our expertise in data engineering and emerging data technologies to solve companies' data challenges, through building fast, scalable solutions that make people more effective and companies more profitable.
"This strategic move also represents exemplary career growth opportunities for our people," Foldi added.
HCL Technologies President (Engineering and R&D Services) Vijay Guntur said Starschema will strengthen the company's data engineering capabilities, providing HCL with the ability to leverage its solutions and talent in Central and Eastern Europe.
"Starschema's capabilities will further scale HCL's data engineering competencies at our integrated delivery centres across the world. Engineering talent will continue to remain in high demand, and Starschema offers a specialised talent pool in a strategic growth area for HCL," he added.
Following the acquisition, HCL Technologies will be able to offer data engineering consulting and near-shore access to digital engineering services to a wide base of clients, he stated.
The transaction is subject to regulatory clearance from the Hungarian Ministry of Innovation and Technology and is expected to close in March 2022.