MY KOLKATA EDUGRAPH
ADVERTISEMENT
Regular-article-logo Wednesday, 17 June 2026

HCL TECHNOLOGIES BUYS US COMPANY FOR $ 10 M 

Read more below

FROM OUR CORRESPONDENT Published 01.06.02, 12:00 AM
New Delhi, June 1 :    New Delhi, June 1:  Shiv Nadar's HCL Technologies Ltd has acquired 100 per cent stake in US-based Gulf Computers Inc, an infotech company providing application development support, in an over $ 10-million deal to expand its client base in America. The acquisition has commenced with the payment of the first tranche of $ 8 million. A second tranche of $ 1.75 million will be paid after six months and the balance payment would be made in tranches concluding in three years, HCL Technologies informed the Bombay Stock Exchange today. 'This acquisition is a strategic step forward in the implementation of HCL's non-linear growth strategy,' company chairman, president and chief executive Shiv Nadar said. 'In Gulf Computers we perceive a synergistic fit, given their extensive experience of US clients and together we should be able to deliver enhanced value to existing customers and explore new areas of growth,' he added. Gulf Computers would continue to be managed by the existing management team under the guidance of the board, it said. The company headquartered in Quincy, Massachusetts has two offshore development centres in Mumbai and Bangalore manned by 189 employees and 77 of them are in the US across the company's headquarters and project offices, HCL Technologies said. Gulf Computers provides full life cycle support for customised application development for business process automation and clients, including government, Oracle, Sun and Microsoft Technologies, it added. The company has worked extensively with various state governments and other clients in the US and is currently involved in multiple projects for the states of Tennessee, Florida, Georgia, Missouri and Maryland. The acquisition would help to combine Gulf Computers' strong client relationships and processes skills with HCL's scalable offshore delivery capabilities for large sized government projects, Nadar said.    
Follow us on:
ADVERTISEMENT
ADVERTISEMENT