HCL Technologies has acquired the balance 43% in Aquila Technologies thus making it a 100% subsidiary of the company.According to a release issued by HCL Technologies to the BSE today, the acquisition has been made through Shipara Technologies - a 100% subsidiary of the company."The company had made a strategic investment and acquired 35.5% stake in Aquila in May 2002 followed by the acquisition of another 21.5% in July 2004. The existing shareholders have now agreed to exit the venture, and the company has accordingly acquired the balance 43% stake in Aquila through Shipara Technologies," the release said.Aquila is a Bangalore-based software provider in the areas of engineering software and services like CAD/CAE PDM/CPC, virtual engineering frameworks, visualization, image processing and computer game development, the release added.S. Raman, president & COO, HCL Technologies, said, "The consolidation of engineering services of Aquila and HCL Technologies makes us, currently, the only IT company In India to offer the complete range of product development services in the truest sense. HCL Technologies' relationships with and access to the top global players in the aerospace, automotive, semiconductor, life sciences and EMS domains will be used to enhance our value offerings to both our existing clients as well as new ones. As full product engineering moves from the west to India, HCL Technologies is ready for the next outsourcing trend."
