HCL Technologies, and apoBank, the largest cooperative primary bank in Germany, have signed with Atruvia AG an agreement to acquire IT consulting company Gesellschaftfur Banksysteme GmbH (gbs).
The transaction is expected to close in January.
HCL will own 51 percent, while apoBank will own 49 percent stake of gbs. apoBank is currently a 10 percent shareholder and is increasing its stake in gbs from 10 percent to 49 percent.
“Germany is one of the largest economies in Europe and is a strategic region for HCL. Together with gbs, HCL will further augment expertise in the financial services portfolio which will expand our footprint in the region,” Sudip Lahiri, Senior Vice President and Head of Financial Services, Europe, HCL Technologies said.
HCL Technologies has eight offices in Germany, including its regional headquarters in Eschborn with more than 1,800 employees who serve 18 of DAX 40 companies.
