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HCL Technologies and Sumeru Equity Partners (SEP), a private equity firm, are to jointly acquire Actian Corporation for $330 million in an all-cash deal.
HCL will own 80 per cent while SEP will own the rest 20 per cent stake of the JV entity which, in turn, will own 100 per cent shareholding of Actian, said a HCL Technologies statement.
Palo Alto-based Actian – a leader in hybrid data management, cloud integration, and analytics solutions – powers insight-driven enterprises around the globe to help them solve data challenges, it said.
“Actian will play a critical role in enhancing HCL’s Mode 3 offerings in data management products and platforms. Actian’s products when combined with HCL’s Mode 2 solution offerings – Cloud Native, Digital and Analytics, and IoT Works, will be a powerful proposition to harness the power of hybrid data,” C Vijayakumar, President and CEO, HCL Technologies, said. Actian will continue to operate as a separate entity within the HCL Technologies ecosystem, led by current CEO and President, Rohit De Souza, according to HCL Technologies.
Prior to this deal, Garnett Helfrich Capital was the majority owner of Actian.
“After working over the last decade to scale up Actian into one of the leading hybrid data management platforms, we are pleased that the company is being acquired by HCL and SEP to take it to the next level of growth and continue to service and expand our worldwide customer base,” said Terence J Garnett,co-founder and Managing Director, Garnett Helfrich Capital.
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