HCLSoftware, a division of HCLTech, announced today its intention to acquire Zeenea, a Paris-based data catalog and governance solutions provider. The acquisition, valued at €24 million, is expected to close in September 2024.
The share prices of HCL Technologies Limited’s were trading at ₹1,593.60, up by 35.50 points (2.28 per cent) on BSE at 9:35 am on Friday .
Zeenea, founded in 2017, specializes in metadata management applications, including data catalog, lineage and governance. The company reported revenues of €2.6 million for the year ended December 31, 2023.
HCLSoftware aims to enhance its Data & Analytics business (Actian) through this acquisition. The move is expected to strengthen HCLSoftware’s capabilities in metadata management, data catalog, and governance, allowing customers to better utilize these features within the Actian Data Platform.
Marc Potter, CEO Actian & Portfolio General Manager of HCLSoftware’s Data & Analytics business stated, “Zeenea’s data catalog and governance capabilities will extend our portfolio to offer a comprehensive, single-vendor solution to meet all the data needs of today’s data-driven enterprises.”
The transaction is subject to no competing offers being received by Zeenea under France’s Hamon Law. HCL Technologies UK Limited, a wholly owned subsidiary of HCL Technologies Limited, will acquire 100 per cent of Zeenea’s outstanding equity.