The transaction is expected to close in January 2022, subject to closing conditions, including regulatory approvals. Post-closing, HCL Technologies will own 51% stake, while Deutsche Apotheker-und ztebank eG (apoBank) will own 49% stake of Gesellschaft f Banksysteme GmbH (gbs). apoBank is currently a 10% shareholder and is increasing its stake in gbs from 10% to 49%.
This acquisition will enable HCL Technologies' existing capabilities to accelerate digital transformation and further enhance its scale in Germany. The IT major aims to expand within the German financial services sector. HCL Technologies and apoBank will leverage gbs' knowledge of the cooperative banking sector and regulatory expertise to offer next-generation services to its clients. This collaboration is in line with HCL Technologies' investments in a local delivery model supported by skilled German workforce.
HCL Technologies has eight offices in Germany, including its regional headquarters in Eschborn. Its more than 1,800 employees serve 18 of DAX 40 companies. Its banking innovation center in Eschborn and an upcoming fintech lab in Berlin will offer technology expertise to organizations globally.
HCL Technologies reported 1.7% rise in consolidated net profit to Rs 3,259 crore on a 2.9% increase in revenue from operations to Rs 20,655 crore in Q2 FY22 over Q1 FY22.
Shares of HCL Technologies lost 0.26% to Rs 1,169.25 on BSE. HCL Technologies is a leading global IT services company and ranked among the top four Indian IT services companies in terms of revenues. The company has focused on 'transformational outsourcing', and offers integrated portfolio of services, including software-led IT solutions, remote infrastructure management, engineering and R&D services, and BPO services. It leverages its global offshore infrastructure and network of offices in 50 countries to provide multi-service delivery in key industry verticals, including manufacturing, financial services, media, telecommunication, healthcare, technology and public services, among others.
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