HCLTech to acquire certain assets of HPE’s Communication Tech for $225 mn

IT company HCLTech on Thursday said it will acquire certain assets of Hewlett Packard Enterprise’s Communications Technology Group (CTG) for USD 225 million, about Rs 1,874 crore, in an all-cash deal.

As part of this agreement, approximately 1,500 employees and 700 contractors with experience of engineering services for telecom industry in various countries — including Spain, Italy, India, Japan, China, Americas and APAC region — will be transferred to HCLTech, the companies said in a note.