HCL Technologies gains after completion of Butler Aerospace acquisition

The stock was up 3% to Rs 860 on the NSE in intra-day trade

HCT Technologies has moved higher by 3% to Rs 860 on the National Stock Exchange (NSE) after the company announced the completion of the acquisition of Butler America Aerospace, LLC with effect from Tuesday, January 3, 2017.

On October 21, 2016, the information technology (IT) company had entered into an agreement to acquire Butler America Aerospace, LLC (Butler Aerospace), a provider of engineering, design services and aftermarket engineering services to US Aerospace and Defense customers.

 “The consideration for the proposed transaction was USD 85 million to be paid in cash. Butler Aerospace had revenues of $85.4 million for