On Tuesday, 5th January 2021 HCL (an Indian IT company) strengthened its position in the Australia and New Zealand market by acquiring DWS, an Australian IT, business and management consulting group.
The acquisition was planned since the month of September 2020 when HCL had said that the acquisition will enhance its contribution to digital initiatives in Australia and New Zealand.
With FY20 revenue at 167.9 million Australian dollars, DWS provides a wide range of IT services and employs over 700 employees across its offices in Melbourne, Sydney, Brisbane, Canberra and Adelaide. On the other hand, HCL has over 1600 employees in major cities in Australia.
It was in the month of September that HCL Technologies had said the total equity value pay-out will be 158.2 million Australian dollars (about Rs 850.33 crore) after considering a total number of shares at 131.83 million on a fully diluted basis.
HCL Technologies shares were trading at Rs. 977.10 apiece at BSE.