Shipara becomes HCL Tech's fully owned

BANGALORE: HCL Technologies has announced the acquisition of the minority shareholder's stake of 23 percent in Shipara Technologies, held by Rao Insulating Company Limited. Shipara Technologies thus becomes a fully owned subsidiary of HCL Technologies henceforth.

Till recently, HCL Technologies held 77 percent equity interest in Shipara Technologies, which primarily focuses on high-end engineering and technology areas such as aerospace, embedded systems, engineering services and communication technologies.

HCL Technologies has bought out the balance stake from Rao Insulating Company and with this acquisition, will further strengthen the company's expertise in the core technologies space, catering to product engineering for the Aerospace and Automotive sectors.

Shipara Technologies, has been assessed and certified for AS 9100, the defacto standard for the aerospace sector, making it the first and only company in India to receive this certification, along with the Aerospace units of HCL Technologies.

It currently employs about 300 professionals and is organized into five distinct Groups, which include the Aerospace Software Group, the Automotive Embedded Software Group, the Engineering Services Group, the Operating Systems and Communication Technologies Group and the Applications Group.

Bejoy George, General Manager (Strategic Initiatives), Shipara said,"Shipara Technologies was setup a few years ago to provide cutting-edge services in the high—tech aerospace and automotive domains, where it has carved a unique niche for itself. This acquisition will supplement HCL Technologies' already strong presence in these spaces. HCL Technologies' global footprint, vast resources and specialized skills in these domains, together with Shipara's experience and expertise will enable us to further enrich our customer offerings and add tremendous value to our proposition in the Aerospace and Automotive domains."