HCL Technologies (HCL) announced the acquisition of two companies – Confinale and Quest Informatics – as part of its growth strategy.
Confinale AG is a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner.
HCL aims to increase its footprint in the wealth management market with emphasis on Avaloq consulting, implementation and management capabilities.
Confinale focuses on IT consulting in key areas in the banking and wealth management sector. Confinale has one of the largest independent pools of Avaloq-certified specialists in Europe and its in-house developed products and solutions accelerate the implementation of the Avaloq platform.
Confinale is one of four companies to be awarded the title of Avaloq Premium Implementation Partner. Confinale has offices in Switzerland including Zurich, Zug and Geneva; as well as Dusseldorf and London.
HCL Technologies recently expanded partnership with Avaloq and acquired German IT consulting company gbs in association with apoBank in December 2021.
“There is significant disruption taking place in global wealth management and this means an opportunity for technology-led innovation,” said Rahul Singh, President of Financial Services and Digital Process Operations, HCL Technologies. “This acquisition strengthens HCL’s digital wealth and asset management capabilities.”
Bengaluru-based Quest Informatics is an aftermarket, Industry 4.0 and IoT company.
Quest serves more than 40 global leaders in the aftermarket space with its cloud-enabled aftermarket ERP, field services management, and digital parts catalog product suites. Aftermarket digital spending is one of the fast-growing segments in the transportation and manufacturing industries.
“Quest will expand HCL Technologies’ Industry 4.0 offerings into the aftermarket space. Quest’s suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey,” said Sukamal Banerjee, Corporate Vice President, Industry Software Division and IoT WoRKS, HCL Technologies.