HCL and Sumeru Equity Partners (SEP), a technology and growth-focused private equity firm, have signed a definitive agreement to acquire Actian Corporation. The all-cash deal is valued at US$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–a leader in hybrid data management, cloud integration, and analytics solutions–powers insight-driven enterprises around the globe to help them solve the toughest data challenges. It owns market-leading products such as Actian Vector, the world’s fastest columnar database; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, hybrid database for next generation operational analytics. This acquisition will add cutting-edge intellectual property to HCL’s capabilities to enable global enterprises’ digital transformation journey.
Commenting on the acquisition, C Vijayakumar, President and CEO, HCL Technologies, said, “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.”
He further added, “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.”
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.