HCLTech acquires French data firm Zeenea, boosts analytics capabilities
CALIFORNIA, UNITED STATES — Global technology firm HCLTech has completed its acquisition of Paris-based software company Zeenea SAS for $26.5 million. The deal further strengthens HCLTech’s position in the rapidly growing data governance and analytics market.
HCLTech announced the deal in a filing with the Bombay Stock Exchange (BSE), marking its second big-ticket purchase this fiscal year, after it bought Hewlett Packard Enterprise’s Communications Technology Group for $225 million in May.
Strategic expansion in data management
Zeenea, known for its innovative data catalog and governance solutions, will be integrated into Actian, a division of HCLSoftware. This acquisition enables Actian to offer customers a comprehensive data ecosystem, positioning it as a one-stop shop for data management needs.
The adaptive knowledge graph technology of the firm offers an organization a 360-degree view of their data assets to prepare businesses for advanced initiatives like Generative AI (GenAI) and data analytics.
“To become data-driven, organizations of all sizes need data governance to ensure the most effective and efficient use of quality data throughout its life cycle,” said Marc Potter, CEO at Actian.
“With Zeenea as part of our portfolio, Actian offers customers a complete data ecosystem – making Actian a one-stop shop for all things data. Together, we will help our customers
HCLTech’s growth strategy
The acquisition of Zeenea aligns with HCLTech’s strategy to enhance its data and analytics offerings.
HCLSoftware alone contributes approximately 10% to the total revenues of HCLTech and has remained a strong generator for the company, with its margins reaching 20.5% in the first quarter of the current fiscal year.
This also expands HCLSoftware’s footprint in Europe, adding to its global workforce and customer base. Today, the company supports more than 7,000 organizations across 130 countries in its data and analytics, business and industry applications, intelligent operations, total experience, and cybersecurity segments.
HCLTech delivered YoY growth of 5.6 percent on revenues; the company completed the quarter ending June 30, 2024, at a revenue of $3.36 billion. The company works with over 227,000 resources in 60 countries. It recently ranked #7 in the OA500 2024, an objective index of the world’s top 500 outsourcing firms.
