HCLSoftware, the software division of HCLTech, is set to acquire Zeenea, a France-based metadata management software provider, for €24 million (approximately Rs 218 crore). The acquisition aims to enhance HCLSoftware’s data and analytics business and is expected to be finalised by next month.
The acquisition will bolster the data and analytics segment — particularly HCLSoftware’s Actian business. The integration of Zeenea’s capabilities in metadata management, data cataloguing, and governance will provide additional support for Actian’s customers, the IT company said in a release.
Kalyan Kumar, chief product officer at HCLSoftware, said: “Metadata management is becoming critical for our customers to accelerate their GenAI initiatives across business functions.”
HCLSoftware’s Actian Data Platform has experienced robust growth in hybrid data management and integration, the company said.
By incorporating metadata management, data cataloguing, and governance features, the platform will offer comprehensive capabilities to its users.
The acquisition will allow HCLSoftware to provide a unified data intelligence solution, empowering enterprises to efficiently discover, govern, connect, manage, and leverage data throughout their data engineering and GenAI processes.
Founded in 2017 and headquartered in Paris, France, Zeenea operates in Belgium and the US as well. The company offers an intelligent data discovery platform that spans a wide range of metadata management applications, including search, exploration, data cataloguing, lineage, governance, compliance, and enterprise data marketplace. As of December 31, 2023, Zeenea reported a revenue of €2.6 million.