Gibraltar Technologies, a Dubai-based IT solution provider, has now bought HCL Infotech, a part of the IT services giant HCL Group, for INR 147 crores.
As a part of the acquisition deal, Gibraltar Technologies and its partners will now gain access to the assets, people, and customer contracts of the HCL Infotech.
As per the report, more than 800 employees at HCL Infotech manage projects such as “world largest biometric system and the India largest Internet backbone network.”
HCL Infosystems, an Information Communications Technology system integrator and distribution company, has revealed that its revenue comes at INR 148.8 crores with a net worth of INR 526 crores.
“This acquisition not only unlocks a huge market potential for GT, but also comes as a positive move for our partners, customers, employees, and shareholders in the Middle East,” Khadeer Peer Shariff S, CEO of Gibraltar Technologies, said.
Previously known as HCL Infosystem MEA, Gibraltar Technologies has its offices in seven countries across the Middle East, Singapore, India, and the US. The company focuses on creating solutions for three technology areas: AI, Robotics, and Digital Mobility.
In October 2018, HCL Infosystems had approved to sell the ownership held by the Nurture Technologies FZE to its subsidiaries Gibraltar Technologies Dubai. The part sale of its Dubai Subsidiary was made to Ahmed, a current Board of Directors at the Abu Dhabi National Insurance Corporation, and Syed Bukhari, the current vice-chairman of Gibraltar Technologies.
Gibraltar Technologies also offers an application known as Wai, which has various iterations, mainly in social media management, healthcare, and enterprise content management.