HCL Technologies acquires German IT firm H&D International
This landmark deal sees HCL attain significant in-country front office and delivery capabilities and will further enhance the companys domain expertise in the global automotive sector, HCL said in a statement.
HCL Technologies today said it has signed an agreement to acquire Germany-based IT and engineering services provider, H&D International Group, to help expand its presence in the European nation.
The company, however, did not disclose the acquisition price.
"This landmark deal sees HCL attain significant in-country front office and delivery capabilities and will further enhance the company's domain expertise in the global automotive sector," HCL said in a statement.
H&D is one of the largest IT service providers in the German automotive industry and operates in over 20 locations globally including Germany, the US, the Czech Republic and Poland.
It specializes in IT infrastructure, application services particularly in R&D IT and has extensive expertise in SAP, computer-aided technologies (CAx), engineering services and customer-specific product development.
H&D's existing delivery centre in Gifhorn, Germany, will become part of HCL's global delivery footprint and will focus on IT and engineering services both in Germany and globally.
"Germany is a critical market for HCL as we continue to expand our business in Europe. We feel the German market is at an inflection point and it is the right time for HCL to expand and make significant investments here," said Ashish Gupta, Corporate Vice President at HCL Technologies.
Bernhard Honigsberg, CEO of H&D International Group, said: "By combining H&D's delivery capabilities with those of HCL, we have an unprecedented opportunity to add tremendous value to the services we provide to support our clients' IT transformation ambitions.
WATCH THIS ZEE BUSINESS VIDEO HERE
"Furthermore, the experience and know-how of HCL and H&D complement each other perfectly and our employees are set to benefit significantly from the new opportunities that lie ahead."
Klaus Holzhauser, Managing Director of independent European research and consulting firm, Pierre Audoin Consultants (PAC) Germany, said HCL already has a strong presence in Germany and the automotive sector. "Its investment in H&D strengthens its capabilities and positioning even further in two crucial regions."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.