Indian IT giants, HCL Technologies and Sumeru Equity Partners (SEP), a technology- focused private equity firm, have joined hands to acquire Actian Corporation at an all-cash deal valued at $330 million. While HCL will own 80 percent of the stake, SEP will have 20 percent of the JV entity.
Headquartered in Palo Alto, California, Actian was founded in 1980. The company is a computer software oganization and a pioneer in hybrid data management firm, cloud integration, and analytics solutions, that provides data as a competitive advantage to thousands of customers around the world. With the introduction of advanced hybrid data technologies and solutions, Actian solves the toughest data challenges organizations face all over the world.
Speaking on the joint venture, Rohit De Souza, CEO & President, Actian Corporation, says, “The age of hybrid data and its management is upon us, and Actian is at the forefront. The most successful business leaders today recognize data as their most valuable asset and strive to leverage it at the speed of their business, no matter where it resides. The combined force of HCL’s next-generation products, platforms, and services; SEP’s experience in scaling enterprise software businesses; and Actian’s tradition of innovation in data management, data analytics, and integration technologies will enable customers to tap into the disruptive potential of their data and deliver tangible business results.”
As the major stakeholder, HCL Technologies will have the majority representation on the Actian Board of Directors and the managing directors of SEP, George Kadifa and Sanjeet Mitra will also accompany the board at closing. Speaking more about the acquisition, C Vijayakumar, President & CEO, HCL Technologies, says, “Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. Actian’s products when combined with HCL’s Mode 2 solution offerings like Cloud Native, Digital and Analytics, and DRYICE, will be a powerful proposition to harness the power of hybrid data.”
Founded by a team from Silver Lake Sumeru in 2014, Sumeru Equity Partners (SEP), utilizes its vast investment experience to boost growth and build strategic value. It partners with management teams and adds value in deep sector expertise. George Kadifa, SEP Managing Director, says, “We see an attractive market growth opportunity for data-centric companies, which is why SEP chose to partner with HCL Technologies in acquiring Actian – a company that leads with product innovation and a customer-focused approach. Actian and HCL’s shared vision, expertise, and global reach will enable businesses to fully realize the value of their hybrid data. We look forward to collaborating with the leadership of Actian and HCL on this growth journey to empower enterprise and public sector organizations for the next phase of their digital transformation.”
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