HCL Technologies (HCL) has joined hands with Sumeru Equity Partners (SEP) to acquire Actian for $330 million in cash as part of the strategy to bring more digital transformation clients.
HCL Technologies will own 80 percent while SEP will own approximately 20 percent stake in a new joint venture entity that will own 100 percent stake in Actian.
Palo Alto-based Actian is a leader in hybrid data management, cloud integration, and analytics solutions. It owns products such as Actian Vector, the world’s fastest columnar database; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, hybrid database for next generation operational analytics.
Actian will play a critical role in enhancing HCL Technologies’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.
“Recent customer wins by Actian validate the potential of its offerings to help customers extract business value out of data,” C Vijayakumar, president and CEO, HCL Technologies, said.
Actian will continue to operate as a separate entity within the HCL Technologies ecosystem, led by current CEO and president, Rohit De Souza.
Garnett Helfrich Capital is currently the majority owner of Actian Corporation.
HCL Technologies will have majority representation on the Actian board of directors. SEP managing directors George Kadifa and Sanjeet Mitra will also join the board.
