HCL Technologies announced that it has signed a definitive agreement for the acquisition of Starschema, a leading provider of data engineering services, based in Budapest, Hungary in a $42.5 million deal.
The strategic acquisition will bolster HCL’s capability in digital engineering — driven by data engineering — and increase its presence in Central and Eastern Europe. The deal is expected to close by March 2022.
Starschema provides consulting, technology and managed services in data engineering to Global 2000 companies in the US and Europe. The acquisition combines Starschema’s high-value capabilities and data-focused expertise with HCL’s existing presence in industry segments undergoing data-driven transformation. Starschema had revenue of $13.6 million for the year ended December 31, 2021.
In addition, HCL will strengthen its position in data engineering, which is an integral part of the company’s digital engineering capabilities and next-generation offerings, said the company in a statement.
“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.
“Starschema will strengthen our data engineering capabilities, providing us with the ability to leverage its solutions and talent in Central and Eastern Europe,” said Vijay Guntur, President, Engineering and R&D Services, HCL Technologies.
He further added, “Starschema’s capabilities will further scale HCL’s data engineering competencies at our integrated delivery centers across the world. Engineering talent will continue to remain in high demand, and Starschema offers a specialized talent pool in a strategic growth area for HCL. Following the acquisition, HCL will be able to offer data engineering consulting and near-shore access to digital engineering services to a wide base of clients.”
The transaction is subject to regulatory clearance from the Hungarian Ministry of Innovation and Technology and is expected to close in March 2022.Source: Business-Standard