HCL Technologies Friday said it will acquire France-based software firm Zeenea SAS at a valuation of €24 million (about Rs 220 crore) to help expand its data and analytics business offerings. The acquisition will be made through HCL Technologies UK, a wholly-owned subsidiary of the Indian IT major.
The all-cash deal is expected to be completed in September 2024, according to a regulatory filing.
Zeenea SAS, which was founded in 2017 and also has subsidiaries in Belgium and the US, reported a revenue of €2.6 million for the year ended December 31, 2023.
The firm provides an intelligent data discovery platform that supports metadata management applications from search and exploration to data catalogue, lineage, governance, compliance and enterprise data marketplace.
The acquisition will enable HCL to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage and better leverage data in their data engineering and GenAI journeys, said Kalyan Kumar, chief product officer of HCL Software, the software business division of HCL Technologies.
In 2023, the company had announced acquisition of German automotive engineering services firm ASAP Group for an enterprise value of about €251 million.
