India’s HCL Technologies to buy Hungarian data services firm
By Vinu Lal
12:29, 14 January 2022
Indian software services company HCL Technologies said on Friday that it will acquire Hungarian data engineering services company Starschema for an undisclosed amount, according to an exchange filing. A local media report estimates the deal size at around $42.5m.
“The strategic acquisition will bolster HCL’s capability in digital engineering – driven by data engineering – and increase its presence in Central and Eastern Europe,” the company said.
Starschema provides consulting, technology and managed services in data engineering to over 2,000 global firms, mostly in the US and Europe.
The acquisition combines Starschema’s high-value capabilities and data-focused expertise with HCL’s existing presence in industry segments that are undergoing data-driven transformation. HCL is seeking to strengthen its position in data engineering, which is an integral part of the company’s digital engineering capabilities and next-generation offerings, the company further said.
“Joining HCL will enable us to keep our strategic focus and expand our data engineering capacity to provide a greater breadth and depth of services to clients,” said Tamas Foldi, founder and CEO of Starschema.
“As part of HCL’s full spectrum of technology services, we will leverage our expertise in data engineering and emerging data technologies to solve companies’ data challenges, through building fast, scalable solutions that make people more effective and companies more profitable. This strategic move also represents exemplary career growth opportunities for our people,” Tamas Foldi added.
“Starschema will strengthen our data engineering capabilities, providing us with the ability to leverage its solutions and talent in Central and Eastern Europe,” said Vijay Guntur, president of engineering and R&D at HCL Technologies.
The transaction is subject to regulatory clearance from Hungary’s Ministry of Innovation and Technology, and is expected to be completed in March 2022.
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