HCLTech Concludes Acquisition Software firm Zeenea

CIOTechOutlook Team | Saturday, 14 September 2024, 02:02 IST

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HCLTech, a prominent IT services company, stated that it finalized the purchase of Zeenea SAS, a software company based in Paris. According to a BSE filing, Zeenea was valued at $26.5 million (23.9 million euros) in the acquisition.

This is the company's second acquisition in the first half of the current fiscal year. In May three months ago, the IT company revealed its intentions to purchase specific assets from Hewlett Packard Enterprise's (HPE) Communications Technology Group (CTG) for $225 million (around Rs1,874 crore).

In August 2024, HCLTech had declared its plan to purchase Zeenea. Zeenea focuses on providing solutions for data catalog and governance. HCL intends to utilize this acquisition to strengthen its data and analytics division (Actian).

HCL Software makes up roughly 10% of HCLTech's overall revenue. The profit margins in the software sector reached a peak of 20.5% in the first quarter of the fiscal year. The organization is divided into three divisions: HCL Software, Engineering and Research and Development, and IT and business services.

State Bank of India has chosen HCLSoftware to automate its digital marketing program. The company announced that the bank will use the HCL Unica martech platform to change its customer interaction structure and provide highly personalized customer experiences with a focus on data privacy.

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