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HCL Technologies buys out Aquila

By Our Staff Correspondent

CHENNAI, FEB. 17. HCL Technologies has acquired the balance 43 per cent in Aquila Technologies Ltd, India, thus making it a wholly owned subsidiary of the company. The acquisition has been made through Shipara Technologies, a 100 per cent subsidiary of HCL Technologies. Aquila is a Bangalore-based software solutions provider in the areas of engineering software and services.

According to S. Raman, President & COO, HCL Technologies, Aquila at present executes projects in the engineering services space. HCL Technologies had made a strategic investment to acquire 35.5 per cent in Aquila in May 2002, followed by the acquisition of another 21.5 per cent in July 2004.

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