In a recent acquisition deal, HCLTech has purchased the Communications Technology Group (CTG) from Hewlett Packard Enterprise (HPE) for $225 million. This move is aimed at bolstering HCLTech’s presence in the telecommunications sector by acquiring talent, intellectual property, and customer relationships from CTG. Approximately 1,500 CTG employees with telecommunications expertise will join HCLTech in countries like Spain, Italy, India, Japan, and China to cater to global clients.
Through this acquisition, HCLTech gains access to a skilled team, software products, and a range of services including solutions and system integration focused on business support systems, network applications, cloud services, and data intelligence. However, HPE will retain the operations support systems (OSS) portion of its former CTG business.
C Vijayakumar, the CEO and Managing Director of HCLTech, expressed excitement about the addition of world-class engineering talent and industry-leading intellectual property from HPE’s CTG Group. This move is expected to enhance HCLTech’s capabilities and strengthen relationships with global communication service providers, including 20 of the top 30 players in the industry. Antonio Neri, the President and CEO of Hewlett Packard Enterprise, highlighted the strategic alignment with HCLTech, emphasizing the value of CTG’s heritage, strategy, and growth potential in the telecommunications sector.
Overall, this acquisition signifies a strategic move by HCLTech to expand its footprint in the telecommunications vertical and leverage the expertise and resources gained from CTG to drive growth and innovation in the global market. The integration of CTG’s talent and technology into HCLTech’s operations is expected to create synergies and opportunities for both companies to collaborate and deliver value to their customers.
The acquisition of CTG by HCLTech marks a significant development in the telecommunications industry, showcasing the company’s commitment to investing in talent, technology, and customer relationships to drive future success and competitiveness. This move aligns with HCLTech’s growth strategy and highlights the company’s ambition to become a key player in the global telecommunications market. With the combined strengths of HCLTech and CTG, the companies are well-positioned to capitalize on emerging trends and opportunities in the industry, solidifying their position as leaders in the telecommunications space.
Article Source
https://timesofindia.indiatimes.com/business/india-business/hcltech-buys-hpe-unit-for-225-million/articleshow/110380896.cms
