HCL Technologies (HCL) and Sumeru Equity Partners (SEP) have signed a definitive agreement to acquire Actian Corporation. The all-cash deal is valued at $330 million. HCL will own 80 percent while SEP will own approximately 20 percent stake of the JV entity which inturn will own 100% shareholding of Actian Corporation.
Palo Alto-based Actian is a hybrid data management, cloud integration, and analytics solutions provider. It owns products such as Actian Vecto; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, hybrid database for next generation operational analytics. This acquisition will add intellectual property to HCL’s capabilities.
“Actian will play a critical role in enhancing HCL’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 DRYICETM , ¬¬will be a powerful proposition to harness the power of hybrid data,” said C Vijayakumar, President and CEO, HCL Technologies.
“Recent customer wins by Actian validate the potential of its offerings to help customers extract maximum business value out of data. I am delighted to welcome Actian’s employees, partners, and customers to the HCL Technologies ecosystem,” he added.
George Kadifa, SEP Managing Director, said: “We see an attractive market growth opportunity for data-centric companies, which is why SEP chose to partner with HCL Technologies in acquiring Actian – a company that leads with product innovation and a customer-focused approach. Actian and HCL’s shared vision, expertise, and global reach will enable businesses to fully realize the value of their hybrid data. We look forward to collaborating with the leadership of Actian and HCL on this growth journey to empower enterprise and public sector organizations for the next phase of their digital transformation.”
Actian will continue to operate as a separate entity within the HCL Technologies ecosystem, led by current CEO and President, Rohit De Souza. “The age of hybrid data and its management is upon us, and Actian is at the forefront. The most successful business leaders today recognize data as their most valuable asset and strive to leverage it at the speed of their business, no matter where it resides,” De Souza said. “The combined force of HCL’s next-generation products, platforms, and services; SEP’s experience in scaling enterprise software businesses; and Actian’s tradition of innovation in data management, data analytics, and integration technologies will enable customers to tap into the disruptive potential of their data and deliver tangible business results.”
“After working over the last decade to scale up Actian into one of the leading hybrid data management platforms, we’re pleased that the Company is being acquired by HCL and SEP to take it to the next level of growth and continue to service and expand our worldwide customer base,” said Terence J. Garnett, co-founder and Managing Director, Garnett Helfrich Capital which is currently the majority owner of Actian Corporation.
HCL Technologies as the majority stakeholder of this strategic acquisition will have majority representation on the Actian board of directors, and SEP managing directors George Kadifa and Sanjeet Mitra will also join the board at closing.For all the latest News, Follow us on Twitter and Facebook