HCL Tech up 3 pc on of acquisition of Butler Aerospace

Shares of HCL Technologies today rose by nearly 3 per cent after the company said it has completed its USD 85 million acquisition of Butler America Aerospace.
The stock ended at Rs 859.05, up 2.88 per cent on BSE. During the day, it gained 3.37 per cent to Rs 863.20.
At NSE, shares of the company went up by 2.61 per cent to close at Rs 856.95.
The all-cash deal, announced in October last year, will strengthen HCL Technologies' position in the aerospace and defence engineering services space.
"The acquisition has been completed with effect from January 3, 2017," HCL said in a filing to the BSE.

Butler Aerospace provides engineering, design services and aftermarket engineering services to US aerospace and defence customers, serving them in areas of mechanical and structural design, electrical design, tool design and aftermarket engineering services.