UAE-based Gibraltar Technologies (GT) has acquired HCL Infotech Ltd, part of India’s HCL group, for 74.6 million dirhams (about ₹147 crore). As part of the deal, the AI-based digital solutions company will absorb the assets, 800 employees and customer contracts managed by HCL Infotech.
Gilbraltar Technologies said in a statement on Tuesday that it hopes to strengthen and grow its service offerings and offer better solutions to customers by combining its 20-year-long experience servicing large government organizations in the Middle East with the organizational capabilities of HCL Infotech.
“Our corporate mission is to become the region’s leading IT and digital company and this acquisition brings us one step closer to accomplishing our goals,” said Khadeer Peer Shariff S S, CEO of Gibraltar Technologies.
He said HCL Infotech’s experience in managing the world’s largest biometric system and their expertise in defence, power and e-government-related projects would help Gilbraltar Technologies gain a competitive edge.
“This acquisition not only unlocks a huge market potential for GT, but also comes as a positive move for our partners, customers, employees and shareholders in the middle east,” added Khadeer.
Last week, HCL Infosystems, the parent of HCL Infotech, reported a loss of ₹34.32 crore in December quarter.
