HCLTech's Arm To Acquire French Software Firm Zeenea For 24 Million Euros
Zeenea, founded in 2017 and based in Paris, specialises in intelligent data discovery and metadata management. The company reported a revenue of euro 2.6 million for the calendar year 2023.
HCL Technologies Ltd.’s subsidiary, HCL Software, plans to acquire the French software firm Zeenea SAS for euro 24 million. This all-cash transaction, expected to close in September 2024, aims to broaden HCL Software’s data and analytics offerings.
The acquisition will enable the company to deliver a unified data intelligence solution, said Chief Product Officer Kalyan Kumar in a regulatory filing. This will enhance enterprises' abilities to discover, govern, connect, manage, and utilise data more effectively in their data engineering and Generative AI initiatives, he said.
HCL Software’s Actian Data Platform has experienced notable growth in hybrid data management and integration. By integrating Zeenea’s metadata management, data catalog, and governance capabilities, the platform will offer expanded features for its customers.
Zeenea, founded in 2017 and based in Paris, specialises in intelligent data discovery and metadata management. The company reported a revenue of euro 2.6 million for the calendar year 2023.
Zeenea’s capabilities will enhance HCL Software’s portfolio, providing a comprehensive, single-vendor solution to address the complex data needs of modern enterprises, said Marc Potter, chief executive officer of Actian and Portfolio General Manager of HCL Software’s Data and Analytics business.
Shares of the company ended 2.56% higher at Rs 1,597.95 on the BSE, compared to a 1.04% increase in the benchmark Sensex.
(With inputs from PTI)
