HCL Tech announces intent to acquire Australia's DWS Ltd

HCL Technologies on Monday announced its intent to acquire DWS Ltd, a leading Australian IT, business and management consulting group.

HCL Technologies on Monday announced its intent to acquire DWS Ltd, a leading Australian IT, business and management consulting group. The acquisition will enhance HCL's contribution to digital initiatives in Australia and New Zealand while strengthening its client portfolio across key industries.

The transaction is expected to close in December subject to closing conditions, including regulatory approvals. DWS has over 700 employees and offices in Melbourne, Sydney, Adelaide, Brisbane and Canberra. It delivers business and technology innovation to large clients across a spectrum of verticals.

HCL currently employs 1,600 people in major cities including Canberra, Sydney, Melbourne, Brisbaneand Perth. Michael Horton, Executive Vice President and Country Manager for Australia and New Zealand at HCL Technologies, said the company has invested in the region for over 20 years, and is committed to enabling digitilisation and growing the local ecosystem.

"We look forward to welcoming the DWS team to HCL and creating enhanced global learning and career opportunities for them," he said in a statement. DWS clocked revenues of 167.9 million Australian dollars in FY20.

At 10:30 am, HCL Technologies was trading 4.24 per cent higher on BSE at Rs 844.95.(ANI)