HCLSoftware, the software business division of HCLTech, has agreed to wholly acquire Zeenea, a French data catalog and governance solutions company, for 24 million euros (about Rs 220 crore).
The acquisition will be made by HCL Technologies UK Ltd, a wholly owned subsidiary of HCLTech. The deal is expected to close in September.
In addition to enhancing the company’s data and analytics business (Actian), the acquisition “will enable HCLSoftware to accelerate the GenAI and Data Engineering roadmap of its customers by adding powerful data catalog, lineage and governance solutions,” HCLTech said in a regulatory filing on Friday.
HCLSoftware’s Actian data platform has seen strong growth in hybrid data management and integration over the last few years. Adding metadata management, data catalog and governance capabilities will enable customers to consume these capabilities of the data platform, according to the company.
“Metadata management is becoming critical for our customers to accelerate their GenAI initiatives across business functions…It will enable HCLSoftware to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage and better leverage data in their data engineering and GenAI journeys,” said Kalyan Kumar, chief product officer, HCL Software.
Founded in 2017, Paris-based Zeenea has subsidiaries in Belgium and the US. The firm provides an intelligent data discovery platform that supports metadata management applications from search and exploration to data catalog, lineage, governance, compliance and enterprise data marketplace. Zeenea enables organisations to democratise data access and generate a 360-degree view of their assets and the relationships between them.
Zeenea’s reported total revenue of 2.6 million euros, 1.8 million euros and 1 million euros in calendar 2023, 2022 and 2021 respectively.
“Organisations demand an integrated and holistic approach to data management. Zeenea’s data catalog and governance capabilities will extend our portfolio to offer a comprehensive, single-vendor solution to meet all the data needs of today’s data driven enterprises,” said Marc Potter, CEO Actian and portfolio general manager of HCLSoftware’s data and analytics business.
Luc Legardeur, CEO and cofounder of Zeenea said incorporating Zeenea’s capabilities with HCLSoftware will deliver a differentiated solution for customers and offer customers a tailored approach to data management.
Source: Economic Times