Merger and Acquisition

HCLTech Completes Acquisition of Paris-Based Software Firm Zeenea for $26.5 Million

• ByStartupStory     |    September 16, 2024

HCLTech announced late Thursday that it has completed the acquisition of Paris-based software company Zeenea SAS. The deal, valued at $26.5 million (23.9 million euros), was disclosed in a filing with the Bombay Stock Exchange (BSE). This marks the second acquisition by HCLTech in the first half of the current fiscal year, following its $225 million acquisition of certain assets from Hewlett Packard Enterprise’s (HPE) Communications Technology Group (CTG) in May.

The acquisition of Zeenea, which specializes in data catalog and governance solutions, aligns with HCLTech’s strategy to bolster its data and analytics business, particularly through its subsidiary Actian. HCLTech had previously announced its intent to acquire Zeenea in August 2024, and the completion of the deal further strengthens its portfolio in the fast-growing data management and governance space.

“HCL Software contributes about 10% of HCLTech’s total revenue, with margins reaching 20.5% during the first quarter of this fiscal year. The software business remains a key driver for the company alongside its other segments—Engineering and Research and Development, and IT and business services,” HCLTech mentioned in its filing.

In a significant recent development, State Bank of India (SBI) selected HCLSoftware to automate its digital marketing initiatives. The bank will leverage the HCL Unica martech platform to deliver hyper-personalized customer experiences while ensuring data privacy.

This acquisition comes at a time when HCLTech is positioning itself to drive innovation in its data and analytics offerings, and Zeenea’s solutions are expected to play a critical role in enhancing the company’s capabilities in this domain.

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