Below is excerpt from the media release that Geometric Global published on its website. For reprint rights: Times Syndication Service", Tea garden closures in the Dooars to impact production and prices: WITDA, Here's how to get the glorious 2021 we deserve after an unimpressive 2020, CNG, piped gas price will reduce from Saturday, Farmers block one part of Delhi-Jaipur highway as cops put up barricades, Amid LAC row, Indian forces to stock weapons & ammo for 15-day intense war, BJP dumps ally in Assam, picks up new one to rule autonomous body, Live: BJP president JP Nadda tests positive for Covid-19, Now, China helps Pakistan wriggle out of Saudi debt, Traditional and delicious chamba chukh recipe, Terms of Use and Grievance Redressal Policy. "In certain areas like engineering and R&D services, there are opportunities to consolidate," the newly appointed CEO of HCL Technologies, C Vijayakumar, told PTI. Hcl Technologies, Geometric, BS Reporter  |  The Company’s most targeted sectors include … The acquisition, however, excluded the 58 per cent stake that Geometric owned in a joint venture -- 3D PLM Software Solutions Ltd -- with Dassault Systemes. In total, HCL will issue 15,640,546 shares. As part of the deal’s close, HCL takes full ownership of the research and development, sales, … BENGALURU: Billionaire Shiv Nadar-controlled HCL Technologies has emerged as the front-runner to acquire Geometric in a deal valuing the IT consulting company at about $200 million. HCL Tech will acquire Geometric’s IT services business for Rs 1,283 crore ($200 million) in an all-share deal. HCL Technologies, the country's fourth largest information technology services and solutions company, will acquire Mumbai-headquartered Geometric, an engineering solutions and services entity. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. It would be nice to see HCL get behind Geometric and fix both flavors of CAMWorks. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". The total value for the transaction will be $260-270 million, said a source.document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); In return, shareholders of Geometric will receive shares in HCL Tech in a swap ratio of 10 equity shares of the latter for every 43 of the former. Noida, India, April 01, 2016 – HCL Technologies Limited (HCL), a leading global IT services provider, today announced an agreement to acquire (through demerger) all of the business of Geometric Limited, except for the 58% stake that Geometric owns in the joint venture – 3DPLM Software Solutions Ltd., with Dassault Systèmes. In consideration of this acquisition, HCL will issue 10 equity shares of Rs. IT company HCL Technologies today said it has signed an agreement to acquire all the business of Geometric Limited in an equity swap deal. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Last Updated at April 2, 2016 00:55 IST. HCL Tech may taste the dangers embedded in new tech outsourcing models. HCL Technologies (vormals Hindustan Computers Limited) ist ein indisches globales IT-Dienstleistungsunternehmen mit Sitz in Noida, Uttar Pradesh, in Indien.Es bietet IT-Dienstleistungen einschließlich Softwareberatung, Enterprise Transformation, dezentrales Infrastrukturmanagement, Engineering und F&E-Services, Business Process Outsourcing (BPO) (BPO) sowie sämtliche Services … BANGALORE: Billionaire Shiv Nadar-controlled HCL Technologies will acquire Mumbai-based engineering services company Geometric for Rs 1,283 crore ($188 million) in a share-swap deal. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. Strong-Bridge Envision . H&D International Group acquired by HCL Technologies . It also marks the strategic next phase in the contribution of 3DPLM in our strategic R&D operations. Geometric Technologies is pleased to announce the transfer of its business to HCL Technologies Ltd (HCL Tech). HCL Technologies has acquired in 9 different US states, and 4 countries. Geometric also agreed to offload its 3DPLM ownership to Dassault Systèmes for Rs 441 crore. HCL Tech buys Geometric for Rs 1,283 crore. ” HCL will issue 10 shares of Rs 2 each to Geometric shareholders for every 43 equity shares of Geometric of Rs 2 each held by them. The entire business of Geometric will be transferred to HCL Tech by way of demerger, except for its 58 per cent share in a joint venture with Dassault Systemes, 3DPLM Software Solutions. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. "I welcome this as a truly synergistic transaction, as both our employees and customers will benefit," said Parpia. HCL Technologies, one of India's top global IT services providers, on Friday said it has reached a pact to acquire Geometric Ltd in an all-share transaction, valued at over Rs 1,200 crore based on current stock prices of the acquirer. Geometric is HCL Technologies. April 01, 2016: Geometric Ltd (Geometric) is pleased to announce the transfer of its business to HCL Technologies Ltd (HCL Tech). 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Founded in 1984, Geometric’s revenue for 2014-15 was Rs 1,105 crore. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Jun 27, 2018. The full integration of 3DPLM into Dassault Systemes is the result of a continuous investment and successful partnership. [79] In November 2011, after HCL revealed an expansion plan in County Kilkenny in Ireland, its Business Process Outsourcing (BPO) division in Northern Ireland won a contract for back-office services from the Department of Health . HCL's acquisition of Geometric is the second-largest buyout deal in the domestic IT space after Tech Mahindra acquired a controlling stake in Satyam for Rs 2,900 crore in 2009. HCL Technologies, the country's fourth largest information technology services and solutions company, will acquire Mumbai-headquartered Geometric, an engineering solutions and services entity. HCL Technologies has agreed to acquire the IT services business of Geometric in an all-stock deal valued at $186 million, bolstering its engineering and automotive services portfolio. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. New York, U.S.A., and Noida, India, July 1, 2019 – HCL Technologies (HCL), a leading global technology company, today confirmed the official close at the end of June 2019 the previously announced acquisition of select IBM products for security, marketing, commerce, and digital solutions. HCL Technologies . View all 16 acquisitions from this search. 3 in global rankings," said Pareekh Jain, research director of engineering services at HfS Research. 0 comments, 01/04/2016, by Guest/blogger, in Exclusive Articles, News. MUMBAI, India. Read more about HCL to acquire PLM specialist Geometric on Business Standard. HCL's buyout of Geometric is making it the world's third-largest technology engineering outsourcing company. The deal, however, excludes the 58 percent stake Geometric owns Digital Editor. HCL BPO services in Ireland are carried out through its main delivery centres in Armagh and Belfast. Topics More important, shareholders of Geometric shall receive one listed redeemable preference share of Rs 68 each, carrying annual dividend of seven per cent, in 3DPLM against every one share of Geometric. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Strong-Bridge Envision acquired by HCL Technologies . 15. HCL Technologies, one of India's top global IT services providers, on Friday said it has reached a pact to acquire Geometric Ltd in an all-share transaction, valued at over Rs.1,200 crore based on current stock prices of the acquirer. JM Financial Singapore acted as the exclusive corporate finance advisor to Geometric and JSA as the exclusive legal advisor to Geometric and 3DS. HCL will inherit several Geometric processes, methodologies and intellectual properties in PLM (product lifecycle management)and digital manufacturing, along with specialised professionals in PLM consulting and the mechanical and manufacturing engineering space. The deal, however, excludes the 58 per cent stake Geometric owns in … HCL Technologies announced its plans to acquire Geometric Limited through an equity-swap deal. HCL Technologies To Acquire Geometric. We believe in free, fair and credible journalism. The acquisition will strengthen HCL's presence significantly, in the PLM (product lifecycle management) consulting as well as mechanical and manufacturing engineering space The acquisition, however, excludes the … HCL will acquire Geometric’s business—demerged from the parent entity-—and merge it with itself to drive greater synergies. HCL Technologies to acquire Geometric Industry: Information technology April, 2016 HCL Technologies, the country’s fourth largest information technology services and solutions company, will acquire Mumbai-headquartered Geometric, an engineering solutions and services entity. Enjoy Reading! NOIDA, India, Apr 3, 2016 - HCL Technologies Limited (HCL), a leading global IT services provider, announced an agreement to acquire (through demerger) all of the business of Geometric Limited, except for the 58% stake that Geometric owns in the joint venture – 3DPLM Software Solutions Ltd., with Dassault Systems. The acquisition, however, excludes the … We, however, have a request. Mar 13, 2019 . H&D International Group . HCL Technologies' acquisition of Geometric is not only expected to strengthen the HCL's already strong engineering practice but also trigger a … IT company HCL Technologies on Friday said it has signed an agreement to acquire all the business of Geometric Limited in an equity swap deal. MUMBAI, India. HCL Technologies on Friday announced the acquisition of Mumbai-based IT consulting firm Geometric in an all share deal. HCL Technologies . HCL Technologies is likely to sign binding agreement to acquire Geometric this week & complete final due diligence for Geometric acquisition, says a report. In April last year, HCL Technologies had signed an agreement to acquire all the business of Geometric in an equity swap deal. PLM Services. HCL Technologies Limited (HCL) has announced an agreement to acquire (through demerger)  all of the business of Geometric Limited, except for the 58% stake that Geometric owns in the joint venture – 3DPLM Software Solutions Ltd., with Dassault Systèmes. HCL acquired the Armagh-based AnswerCall Direct earlier in 2005. Under the transaction, the entire business of Geometric Ltd will be transferred to HCL Tech by way of demerger, except for its 58% share in the joint venture with Dassault Systèmes (3DS) (3DPLM Software Solutions Limited (3DPLM)). The transaction thus creates end–to–end engineering and research capabilities across the full product lifecycle — hardware, software, mechanical & manufacturing engineering and PLM consulting. The acquisition excludes the 58% stake that Geometric owns in the joint venture 3DPLM Software Solutions with Dassault Systèmes. Creating a unique global business with strengths across PLM, Mechanical and Embedded engineering services. Kindly visit the Manage my subscription page to discover the benefits of this programme. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. I have become very cynical about the trends that software companies are taking towards users though so I doubt much will change. In the past few months, it has announced acquisition of companies like Geometric (for USD 200 million) and Butler America Aerospace (USD 85 million). Support quality journalism and subscribe to Business Standard. The acquisition of Geometric for around $200 million will mark the company's third and largest acquisition in the engineering sector so far. Products And Technologies Geometric will be merged into 3DPLM, thereby giving 100 per cent ownership of the latter to Dassault Systemes (3DS). "HCL will issue 10 equity shares of Rs. Billionaire Shiv Nadar-controlled HCL Technologies will acquire Mumbai-based engineering services company Geometric for Rs 1,283 crore. Your support through more subscriptions can help us practise the journalism to which we are committed. Noida and Mumbai, April 2 20165: In a three-way consolidation of talents and technology, global IT services leader HCL, is to acquire the business of engineering services company Geometric, except for the latter's 58% stake in 3DPLM which parent Dassault Systèmes will buy back. I can see a huge percentage of small and medium size shops soon deciding to just step off the pay each year bandwagon for things that just are not bringing new features that are … HCL Technologies’ largest acquisition to date was in 2018, when it acquired International Business Machines - Software Products for $1.8B. In another deal, Mumbai-based Geometric has also offloaded its 58% stake in 3DPLM to France’s Dassault Systemes. 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