Acquisition to strengthen HCL’s position in the aftermarket space
Noida, India – May 9, 2022 - – HCL Technologies (HCL), a leading global technology company, announced it will acquire, through its wholly-owned subsidiary, a Bengaluru-based Quest Informatics Private Limited (Quest) - an aftermarket, Industry 4.0 and IoT company, in an all-cash deal.
Quest currently serves more than 40 global leaders in the aftermarket space with its cloud-enabled aftermarket ERP, field services management, and digital parts catalog product suites. Aftermarket digital spending is one of the fast-growing segments in the transportation and manufacturing industries.
"Quest will help expand HCL Technologies’ Industry 4.0 offerings into the fast-growing aftermarket space. Quest's suite of aftermarket solutions and products will be valuable to transportation and manufacturing clients globally in their digital transformation journey,” said Sukamal Banerjee, Corporate Vice President, Industry Software Division and IoT WoRKS™, HCL Technologies. “Additionally, Quest's existing customers will benefit through HCL Technologies' scale, reach and R&D prowess."
"HCL Technologies' global reach and expertise combined with Quest Informatics' deep domain knowledge will help accelerate product innovation and drive a global reach for continued growth. The acquisition will create synergies and enable meaningful engagements with customers in the end-to-end digital aftermarket space," said Rudresh Basavarajappa, CEO & Chairman, Quest Informatics Private Limited.
The deal is expected to be complete before July 31, 2022.
About Quest Informatics
Quest Informatics is a company specializing in the aftermarket domain. It helps clients transform their aftermarket operations and their customer experience, revamp their legacy business models to stay relevant and competitive in the digital era. It has one of the best-of-breed aftermarket products for diverse industrial applications. which may be deployed on-premise or Cloud, Mobile, or other Devices and interface with legacy systems. With more than two decades of aftermarket experience, Quest Informatics brings unmatched experience.
About HCL Technologies
HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL’s Mode 1-2-3 strategy, based on its deep-domain industry expertise, customer-centricity and entrepreneurial culture of Ideapreneurship™, enables businesses to transform into next-gen enterprises.
HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in the areas of applications, infrastructure, digital process operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. P&P provides modernized software products to global clients for their technology and industry specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized as Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services.
As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability and education initiatives. For the 12 months ended March 31, 2022, HCL had consolidated revenue of US$11.48 billion. Its nearly 209,000 ideapreneurs operate out of 52 countries.
For more information, visit www.hcltech.com
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For further details, please contact:
Meenakshi Benjwal, Americas
Elka Ghudial, EMEA
Devneeta Pahuja, India and APAC