HCL Technologies Acquires IoT Aftermarket Firm Quest Informatics
HCL Technologies has acquired Quest Informatics, an aftermarket company focused on ERP (enterprise resources planning), field services management, and digital parts catalog product suites. Financial terms of the deal were not disclosed.
This is technology M&A deal number 459 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
This is HCL’s second acquisition announcement this week. The other M&A deal involved buying Confinale AG, a digital banking and wealth management consulting specialist for the Avaloq software platform.
Spare Parts Meet Digital Transformation
The latest deal empowers HCL with aftermarket digital marketplace expertise. Such marketplaces are particularly popular in the transportation and manufacturing industries, allowing customers to purchase spare parts, accessories and components for motor vehicles.
In a prepared statement about the deal, Sukamal Banerjee, corporate VP for HCL’s Industry Software Division and IoT WoRKS, said:
“Quest will help expand HCL Technologies’ Industry 4.0 offerings into the fast-growing aftermarket space. Quest’s suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey. Additionally, Quest’s existing customers will benefit through HCL Technologies’ scale, reach and R&D prowess.”
Added Rudresh Basavarajappa, CEO & chairman of Quest Informatics:
“HCL Technologies’ global reach and expertise combined with Quest Informatics’ deep domain knowledge will help accelerate product innovation and drive a global reach for continued growth. The acquisition will create synergies and enable meaningful engagements with customers in the end-to-end digital aftermarket space.”
The deal is expected to be finalized before July 31, 2022.
HCL: Additional IT Services Acquisitions
HCL has remained relatively active on the M&A front. Noteworthy deals include acquiring:
- May 2022: Confinale AG for digital banking and wealth management consulting.
- January 2022: Starschema for data engineering & MSP services on AWS cloud.
- September 2020: Australia management consulting firm DWS Limited for US$114 million.
- May 2020: The majority of Symantec’s enterprise consulting team from Broadcom.
- March 2019: Strong-Bridge Envision (SBE), a Seattle-based digital transformation consulting firm, for $45 million.
- December 2018: Selected IBM software businesses — including some classic Lotus Notes, Domino and Tivoli products — for US$1.8 billion.
- June 2018: SAP partner H&D International Group for US$34.7 million.
For the 12 months ended March 31, 2022, HCL had consolidated revenue of US$11.48 billion. The company employs roughly 209,000 people across 52 countries.