HCL Technologies (HCL), along with 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 $330 million. HCL will own 80% while SEP will own approximately 20% stake of the joint venture entity which in turn will own 100% shareholding of Actian Corporation.
Palo Alto-based Actian is a provider of hybrid data management, cloud integration, and analytics solutions. Its products include Actian Vector, a columnar database; Actian DataConnect, a hybrid cloud data integration platform; and Actian X, hybrid database for next generation operational analytics.
C Vijayakumar, president and CEO, HCL Technologies, expects that Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. He added that 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.”
There is 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, added George Kadifa, SEP Managing Director. He added that Actian and HCL’s share vision, expertise, and global reach which will enable businesses to realize the value of their hybrid data.
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.”
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 more information about HCL, visit www.hcltech.com
For more information about Sumeru Equity Partners, visit www.sumeruequity.com.
For more about Actian, visit www.actian.com.