HCL Tech completed the acquisition of France-based Zeenea

HCL Technologies Limited is a multinational Indian information technology consulting firm with its main office located in Noida. Established by Shiv Nadar, it separated out in 1991 when HCL began providing software services. The company employs over 220,000 people and maintains offices in 60 countries.

HCL Technologies Limited has taken 100% stake in Zeenea:

HCL Technologies Ltd. announced on Thursday that it has successfully acquired Paris, France-based software company Zeenea SAS as of September 12, 2024. A stock exchange notification stated that Zeenea was valued at 23.9 million euros as a result of the acquisition. 85% of businesses, according to ISG Research, think it is imperative to invest in generative AI technology within the next 24 months. Together, data governance and quality control the accuracy, completeness, suitability, and policy-compliant use of the data that powers GenAI systems.

On August 9, 2024, HCL Tech declared its intention to purchase Zeenea. Zeenea specializes in governance and data catalog solutions. HCL intends to grow Actian, its Data & Analytics division, through this acquisition.

Zeenea’s platform provides lineage, governance, metadata management, and data cataloging, according to HCL Tech. By providing a thorough understanding of their assets, the company’s technology seeks to assist organizations in accessing and interpreting their data.

All about Zeenea:

Zeenea is well-known for its cloud-native Data Discovery Platform, which offers enterprise data marketplace, lineage, governance, compliance, and search and exploration capabilities for metadata management applications. Zeenea gives businesses the ability to generate a 360-degree view of their assets, including the relationships among them, and democratize data access. This is made possible by its adaptive knowledge graph.

HCL Technologies Ltd. stock closed on the positive side:

HCL Technologies stock closed today at Rs. 1,809.25 per share after taking a 100% stake in Zeenea SAS, a software company situated in Paris, France.

Conclusion: HCL Technologies has acquired Zeenea in its entirety, to provide clients with an entire data ecosystem.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.