Narayan AmmachchiIndian IT services company HCL Technologies and private equity firm Sumeru Equity Partners have agreed to buy US data management firm Actian Corp in a US$330 million deal.
Palo Alto, California-based Actian also provides businesses cloud computing and analytics services.
HCL will own 80% while Sumeru will have a 19.5% stake, with Rohit De Souza, the current CEO, retaining his position along with the remaining 0.5% in the company.
The US company’s patented technology platforms were apparently the reasons for HCL to consider the acquisition.
Operating since 1980, Actian owns products such as Actian Vector, which it describes as the world’s fastest columnar database; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, a hybrid database for next generation operational analytics.
In addition to the US, Actian runs delivery centers in Germany, Japan, Australia, and the UK, and posted US$107 million in annual revenue for 2017.
“Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms,” said HCL CEO Vijayakumar in press release. The Indian company says it is certain that the demand for data management services is not going to decrease with businesses placing a high price tag on their database.
This is the second acquisition by HCL in as many weeks. Last week, it purchased US-based life sciences and consumer services provider C3i Solutions for US$60 million.
However, its previous acquisition in data management industry was Datawave, which it took over for US$9 million in September last year.
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