HCL Technologies to acquire Hungarian company Starschema
HCL Technologies announced on Friday that it has signed a definitive agreement to acquire Starschema, a leading provider of data engineering services, based in Budapest, Hungary. The strategic acquisition will support HCL’s capability in digital engineering – focused on data engineering – and strengthen its presence in Central and Eastern Europe.
“Joining HCL will allow us to maintain our strategic focus and expand our data engineering capability to provide greater breadth and depth of services to customers,” said Tamas Foldi, Founder and CEO of Starschema.
He added, “As part of HCL’s full suite of technology services, we will leverage our expertise in data engineering and emerging data technologies to solve enterprise data challenges, creating fast and scalable solutions. that make people more efficient and businesses more profitable. This strategic decision also represents exceptional career growth opportunities for our employees. »
The acquisition of Starschema will strengthen HCL’s data engineering capabilities, giving the company a better opportunity to leverage its solutions and talent in Central and Eastern Europe.
However, this transaction has yet to obtain regulatory clearance from the Hungarian Ministry of Innovation and Technology and is expected to be completed by March 2022.
Shares of HCL ended Friday at Rs 1,337.55, up Rs 4.3 or 0.32% from its previous close of Rs 1,333.25 on BSE. The certificate opened at Rs1,328.10 and touched an intraday high and low of Rs1,342.95 and Rs1,292.80 respectively.