HCL Tech acquires Aquila Technologies

By agencies   |   Friday, 18 February 2005, 08:00 Hrs
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BANGALORE:HCL Technologies Ltd has announced the acquisition of Bangalore based Aquila Technologies by picking up the balance 43 percent, thus making it a 100 percent subsidiary of the company.

HCL Technologies had acquired 35.5 percent stake in Aquila in May 2002, later acquired another 21.5 percent in July 2004. Aquila’s shareholders will exit the JV, thus making it completely a part of HCL Technologies.

Aquila works in the areas of engineering software and services like CAD/CAE PDM/CPC, virtual engineering frameworks, visualization, and image processing.

Speaking on the acquisition, HCL Technologies president and COO S Raman said, "This consolidation of engineering services between Aquila and HCL Technologies, makes us, currently, the only IT Company in India to offer the complete range of product development services in the truest sense. HCL Technologies' relationships with and access to the top global players in the aerospace, automotive, semiconductor, life sciences and EMS domains will be used to enhance our value offerings to both our existing clients, as well as new ones. As full product engineering moves from the West to India, HCL Technologies is ready for this next outsourcing trend."

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