HCL Tech acquires UK-based ETL Factory
DSIJ Intelligence / 06 Sep 2017
HCL Technologies, the IT service provider company, announced acquisition of UK-based ETL Factory Ltd., which is engaged in the business of datawave.
HCL Technologies, the IT service provider company, announced acquisition of UK-based ETL Factory Ltd., which is engaged in the business of datawave.
The ETL Factory has created an innovative data automation platform which enables enterprise customers to execute large scale, complex data migration and data integration projects in leaner, faster and smart way.
The HCL Tech management said this acquisition of ETL Factory and its suite of products bolsters HCL’s capabilities to collaborate with clients on their mission critical data transformation projects, incorporating a culture of DevOps and continuous integration. Also, the management added, the datawave will also bring in significant banking industry expertise.
The turnover of ETL Factory for FY17 was GBP 6.2 million. The acquisition has costed HCL GBP 7 million, which exhibits valuation of 1.12x price/sale.
The stock of HCL Technologies opened today at Rs 868 from previous close of Rs 859.2 and remained positive, despite fall in major indices. However, it closed for the day at Rs. 850.75, down by 0.5 per cent
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