Narayan AmmachchiHCL Technologies, an Indian IT services company, has acquired certain assets of Communication Technology Group (CTG), a subsidiary of Hewlett Packard Enterprise (HPE), for $225 million.
As part of the agreement, approximately 1,500 CTG employees have joined HCL Tech. CTG, according to HCL, owns several innovative solutions that telecom carriers look for to streamline and enhance their operations.
“HCL brings engineering expertise, while CTG adds cutting-edge technology products to the mix. This synergy positions us to capture greater revenue opportunities in the telecom sector,” HCL said in a filing with Bombay Stock Exchange.
HCL’s telecom and media vertical witnessed a robust 39% revenue growth in the fiscal year ending March 31, 2024.
With this acquisition, HCL gains intellectual property (IP) rights to several unique technology solutions and strengthens its research and development capabilities through CTG’s specialized workforce.
“Post-acquisition, 20 of the world’s top 30 telecom carriers are now our clients,” HCL Tech added.
HCL provides a range of services to telecom firms, helping them launch payment gateways, deploy 5G networks, and enhance digital services.
In its website, the company claims it specializes in integrating IoT into telecom networks, developing applications for network operations, enabling cloud-based telecom services, and delivering advanced data intelligence.
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