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HCL Tech to buy CTG Assets from HPE at $225 Million

May 30, 2024

By: BlinkX Research Team

IT consultant HCL Technologies on Thursday, May 23 announced that it is planning to acquire Communication Technology Groups (CTG) assets from Hewlett Packard Enterprise (HPE) at $225 million to further extend its footprint in the telecom services market.

Key Takeaways from HCLTech’s Acquisition:

• HCL Tech to acquire CTG assets from Hewlett Packard Enterprise (HPE) at $225 million.
• Will generate employment of up to 1500 across Spain, Italy, India, Japan and China.
• The acquisition will help HCLTech acquire the industry’s leading intellectual property, engineering research and development talent and client relationships with top global communication service providers.

The agreement will leverage the employment of nearly 1,500 people in Communication Technology Groups with telecom industry experience across countries including Spain, Italy, India, Japan and China.

Through this acquisition, HCLTech will have the industry’s leading intellectual property, engineering and research and development talent and client relationships with top global communication service providers.

“With this transaction and our planned strategic partnership with HPE, we are strengthening our telecom practice to address the rapidly expanding and transforming global telecom market,” C Vijayakumar, CEO and Managing Director of HCLTech said.

About HCL Technologies Limited:

HCL Technologies Limited is a worldwide technology firm with over 227,000 employees across 60 countries. HCL Technologies delivers industry-leading capabilities centred around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. The company works with clients across all major verticals, providing industry solutions for financial services, manufacturing, life sciences and healthcare, technology and services, telecom and media, and retail.

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