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NEW DELHI: The country’s fourth largest software services firm HCL Technologies along with private equity firm Sumeru Equity Partners (SEP) has signed an agreement to acquire Actian Corporation for $330 million. While HCL Tech will own 80% , SEP will own approximately 20% stake of the joint venture which inturn will own 100% shareholding of Actian Corporation.
Based in Palo Alto, Actian is a leading provider of hybrid data management, cloud integration, and analytics solutions and offers products such Actian Vector, the world’s fastest columnar database; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, hybrid database for next generation operational analytics.
C Vijayakumar, President and CEO, HCL Technologies, said Actian will play a critical role in enhancing HCL’s offerings in emerging technologies such as data management products and platforms. “Recent customer wins by Actian validate the potential of its offerings to help customers extract maximum business value out of data. I am delighted to welcome Actian’s employees, partners, and customers to the HCL Technologies ecosystem.”
This acquisition is expected to add significant intellectual property to HCL’s existing capabilities.
George Kadifa, SEP Managing Director, said: “We see an attractive market growth opportunity for data-centric companies, which is why SEP chose to partner with HCL Technologies in acquiring Actian – a company that leads with product innovation and a customer-focused approach. Actian and HCL’s shared vision, expertise, and global reach will enable businesses to fully realize the value of their hybrid data.”
The company said that Actian will continue to operate as a separate entity within the HCL Technologies ecosystem, led by current CEO and President, Rohit De Souza. “The age of hybrid data and its management is upon us, and Actian is at the forefront. The most successful business leaders today recognize data as their most valuable asset and strive to leverage it at the speed of their business, no matter where it resides,” De Souza said.
HCL Technologies as the majority stakeholder of this strategic acquisition will have majority representation on the Actian board of directors, and SEP managing directors George Kadifa and Sanjeet Mitra will also join the board.