HCL buys two UK firms for £8 million

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Bangalore | January 26, 2016 1:14 AM

India’s fourth largest IT services exporter HCL Technologies has announced the acquisition of two UK-based firms Point to Point and Point to Point Products...

India’s fourth largest IT services exporter HCL Technologies has announced the acquisition of two UK-based firms Point to Point and Point to Point Products, jointly known as P2P and owned by a common set of shareholders, for 8 million pounds in an all-cash deal.

In a notice to the stock exchanges on Monday, HCL Technologies said, Point to Point  (PPL) incorporated in 1993 offers services such as desktop & application virtualisation and clocked a revenue of 6.3 million pounds in FY15.

Point to Point Products  (PPPL) incorporated in 1998 is mainly in the business of  sale of  licences of Google, Citrix etc and clocked revenue fo 2.2 million pounds in FY15.  According to HCL Technologies, this acquisition will help it to take advantage of rapidly growing virtulisation space as there is a global shift to desktop virtulisation.

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