HCLSoftware to Acquire French Firm Zeenea in €24 Million Deal

HCLSoftware, a subsidiary of HCLTech, plans to acquire the France-based software company Zeenea SAS for €24 million to diversify its data and analytics offerings. The deal, expected to close by September 2024, will enhance HCLSoftware's capabilities in unified data intelligence solutions.

HCLSoftware, an arm of HCLTech, is set to acquire France-based software company Zeenea SAS at a valuation of €24 million. This move aims to diversify its data and analytics portfolio.

The all-cash transaction is slated to finalize in September 2024, per a regulatory filing by HCLTech. Chief Product Officer Kalyan Kumar stated that the acquisition would enable HCLSoftware to offer a comprehensive data intelligence solution, empowering enterprises in their data engineering and GenAI journeys.

Founded in 2017, Zeenea specializes in intelligent data discovery platforms, offering metadata management applications. The deal will extend HCLSoftware's portfolio into metadata management, data catalogs, and governance, providing a single-vendor solution for data-driven enterprises, according to Marc Potter, CEO Actian & Portfolio General Manager. HCLTech shares saw a 2.56% rise following the announcement.

(With inputs from agencies.)