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.
As part of the acquisition, the existing leadership team of PowerObjects will remain in place, and no workforce changes are planned. The total cash consideration for this transaction is approximately $46 million (roughly Rs. 300 crores), including contingent payments subject to certain financial milestones. PowerObjects had trailing twelve-month revenues of approximately $37 million as of September 30, 2015. Over 250 PowerObjects employees will be welcomed into the HCL family.