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HCL Technologies to acquire Geometric's business

HCL Technologies to acquire Geometric's business
02 April 2016 Current Affairs: HCL Technologies, the country's fourth largest information technology services and solutions company, will acquire Mumbai-headquartered Geometric, an engineering solutions and services entity.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. The total value for the transaction will be $260-270 million, said a source.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. 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.Geometric will be merged into 3DPLM, thereby giving 100 per cent ownership of the latter to Dassault Systemes (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 transaction thus creates end–to–end engineering and research capabilities across the full product lifecycle  hardware, software, mechanical & manufacturing engineering and PLM consulting.JM Financial Singapore acted as the exclusive corporate finance advisor to Geometric and JSA as the exclusive legal advisor to Geometric and 3DS.Founded in 1984, Geometric’s revenue for 2014-15 was Rs 1,105 crore.


March 2017 Current affairs
25 MAR
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24 MAR
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23 MAR
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22 MAR
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February 2017 Current affairs
28 FEB
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27 FEB
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25 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
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28 JAN
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27 JAN
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25 JAN
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24 JAN
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December 2016 Current affairs
31 DEC
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30 DEC
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29 DEC
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28 DEC
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27 DEC
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26 DEC
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November 2016 Current affairs
30 NOV
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29 NOV
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28 NOV
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26 NOV
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25 NOV
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