Karvy Data Management Services has acquired HCL Services
By MYBRANDBOOK
Karvy Data Management Services has acquired HCL Services, a subsidiary of HCL Info systems in a deal of Rs. 108 crore. The sale of HCL Services Ltd was approved by HCL Info systems' Board that consists of domestic enterprise services business, the company said in a BSE filing.
The deal amount of Rs 108 crore, which includes the tax refunds of Rs 87 crore, which would be paid to the company to the extent received. The transaction is expected to close by April 1, 2018.
The deal, however, excludes HCL Infosystems' Care Business that is being transferred to HCL Computing Products Limited for subsequent divestment to BSE-listed Quess Corp. It also excludes the IT & Facility unit including investment in Singapore subsidiaries and its step down subsidiaries, the filing said
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