HCL Tech buys Aquila Technologies

NEW DELHI: HCL Technologies Ltd has announced that it has acquired the balance 43 percent in Aquila Technologies Ltd, thus making it a 100 percent subsidiary of the company. The acquisition has been made through Shipara Technologies, a its wholly owned subsidiary of HCL Technologies.






HCL Technologies had made a strategic investment to acquire 35.5 percent stake in Aquila in May 2002, followed by the acquisition of another 21.5 percent in July 2004. The existing shareholders have now agreed to exit the JV and the company has accordingly acquired the balance 43 percent stake in Aquila through Shipara Technologies.





Aquila is a Bangalore-based software provider in the areas of engineering software and services like CAD/CAE PDM/CPC, virtual engineering frameworks, visualization, image processing and computer game development





Commenting on this strategic 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."