HCLTech arm to acquire French software firm Zeenea
The all-cash deal is expected to be completed in September 2024, according to a regulatory filing by HCLTech.
HCLTech's arm HCLSoftware plans to acquire 100% stake in France-based software firm Zeenea at a valuation of 24 million euros, in an effort to diversify its data and analytics business offerings.
The all-cash deal is expected to be completed in September 2024, according to a regulatory filing by HCLTech.
HCLSoftware Chief Product Officer Kalyan Kumar said the acquisition will enable the firm to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage and better leverage data in their data engineering and GenAI journeys.
"HCLSoftware Actian Data Platform has seen strong growth in Hybrid Data Management and Integration over the last few years. By adding metadata management, data catalog and governance capabilities, the customers would be able to consume these capabilities of the data platform," the filing said.
Founded in 2017, Paris-headquartered Zeenea is a software company providing an intelligent data discovery platform that supports metadata management applications.
It reported a revenue of 2.6 million euros in CY2023.
"Zeenea's data catalog and governance capabilities will extend our portfolio to offer a comprehensive, single-vendor solution to meet all the data needs of today’s data driven enterprises," said Marc Potter, CEO Actian & Portfolio General Manager of HCLSoftware’s Data and Analytics business.
Shares of HCLTech were trading 2.56% higher at Rs 1,597.95 apiece on the BSE on Friday.
Edited by Megha Reddy