HCLTech finalizes acquisition of assets from HPE
NEW YORK, UNITED STATES and NOIDA, INDIA — Global technology company HCLTech has completed the acquisition of select assets from Hewlett Packard Enterprise’s (HPE) Communications Technology Group (CTG).
The $225 million-deal, first announced in May 2024, strengthens HCLTech’s position in the telecom services market while expanding its engineering capabilities.
Service portfolio enhancement
The acquisition bolsters HCLTech’s portfolio with intellectual property, solutions for business support systems (BSS), network applications, and systems integration. It also integrates over 1,500 skilled product engineering specialists from CTG, strengthening HCLTech’s workforce in key regions such as China, Japan, Spain, Romania, Italy, India, and Latin America.
The deal establishes direct relationships with leading global communication service providers (CSPs), including 20 of the top 30 providers.
“We are excited to welcome the talented professionals and leadership team from CTG, whose expertise will be instrumental in driving our shared success,” said Anil Ganjoo, Chief Growth Officer, TMT industries, at HCLTech.
“By combining our engineering strengths with CTG’s advanced capabilities, we will enhance our partnerships with leading global CSPs, accelerate the growth of our digital services and expand our global footprint.”
HPE, meanwhile, continues to deliver value through its comprehensive services portfolio, serving 5,800 users across 57 countries. The company offers specialized services, including AI solutions, managed security, and application modernization services.
“We are deeply committed to continuing CTG’s success and delivering exceptional value to all CTG clients,” said Ganjoo.
Marie Myers, Executive Vice President and Chief Financial Officer at HPE, added, “We are pleased to have found a partner in HCLTech with appreciation for CTG’s significant legacy and future potential.”
The partnership represents a strategic alignment of two technology leaders, combining HCLTech’s engineering prowess with HPE’s established market presence.
Financial performance and market position
HCLTech demonstrated a strong financial performance in the July–September quarter, reporting a 10.51% increase in consolidated net profit, reaching ₹4,235 crore (US$503 million). It secured the #7 spot in the OA500 2024, an objective index of the world’s top 500 outsourcing companies.
Hewlett Packard Enterprise, based in Texas, specializes in edge-to-cloud solutions, focusing on networking, storage, and high-performance computing. It operates in more than 100 countries and generated $29 billion in revenue in FY2023.
