The country's fifth largest software exporter HCL Technologies on Wednesday announced acquisition of US-based banking software company Capital Stream for Rs 160 crore ($40 million).
The acquisition, made in an all-cash deal, would enhance HCL's ability to provide end-to-end solutions through product and multi-service delivery capability to commercial and retail financial institutions, HCL Technologies head, M&A (IT services), Ramkrishna said. Revenues from the acquisition would start coming in from this quarter, he said.
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