This will bolster HCL's global applications business, which offers transformational programs and complex application management for a myriad of clients' technology landscapes," HCL Technologies said in a release.
it justified the acquisition citing market research firm Gartner's forecast that CRM will be a $36 billion (roughly Rs. 2,35,096 crores) worldwide market by 2017, and will grow faster than any other enterprise software category, as businesses look to build upon long-term customer relationships.
More importantly, this margin performance is disappointing in the wake of slight currency depreciation and absence of wage hikes (which hit margins for most peers). We reckon that margins continue to be under pressure across the sector and HCL Tech’s results also reflect that trend,” it added.