HCL Technologies to acquire Hungarian Company Starschema

14 Jan 2022 , 04:48 PM

HCL Technologies on Friday informed about the signing of a definitive agreement for the acquisition of Starschema, a leading provider of data engineering services, based in Budapest, Hungary. The strategic acquisition will support HCL’s capability in digital engineering — driven by data engineering — and increase its presence in Central and Eastern Europe.

“Joining HCL will enable us to keep our strategic focus and expand our data engineering capacity to provide a greater breadth and depth of services to clients,” said Tamas Foldi, Founder and CEO, Starschema.

He further added, “As part of HCL’s full spectrum of technology services, we will leverage our expertise in data engineering and emerging data technologies to solve companies’ data challenges, through building fast, scalable solutions that make people more effective and companies more profitable. This strategic move also represents exceptional career growth opportunities for our people.”

The acquisition of Starschema will strengthen HCL’s data engineering capabilities, providing the company with better opportunity to leverage its solutions and talents in Central and Eastern Europe.

However, this transaction is still to get regulatory clearance from the Hungarian Ministry of Innovation and Technology, and is expected to be completed by March 2022.

HCL’s shares ended on Friday at Rs1,337.55 up by Rs4.3 or 0.32% from its previous closing of Rs1,333.25 on the BSE. The scrip opened at Rs1,328.10 and touched a intraday high and low of Rs1,342.95 and Rs1,292.80 respectively.