BENGALURU: IBM and HCL Technologies (HCL) announced a definitive agreement under which HCL will acquire select IBM software products for $1.8 billion.
The transaction is expected to close by mid-2019, subject to completion of applicable regulatory reviews, HCL said in a regulatory filing.
The software products in scope represent a total addressable market of more than $50 billion and include Appscan, BigFix, Unica, Commerce, Notes & Domino among others.
HCL and IBM have an ongoing IP Partnership for five of these products.
"We continue to see great opportunities in the market to enhance our products and platforms offerings. The products that we are acquiring are in large growing market areas like security, marketing, and commerce which are strategic segments for HCL. Many of these products are well regarded by clients and positioned in the top quadrant by industry analysts," said C Vijayakumar, President & CEO, HCL Technologies.
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