HCL acquires UK-based data management platform Datawave

NEW DELHI: HCL Technologies has announced the acquisition of automation–driven data management platform Datawave to accelerate data integration and migration for their clients. On Tuesday, the country's fourth largest software services firm said that it has agreed to buy ETL Factory Limited, doing business as Datawave, a UK–based company that has created an innovative data automation platform which enables enterprise customers execute large scale, complex data–migration and data–integration projects in a leaner, faster and smarter way. The total cash consideration for the transaction is $9.14 million, including payments subject to certain financial milestones, HCL said.

“The acquisition of Datawave and its suite of products bolsters HCL’s capabilities to collaborate with clients on their mission–critical data transformation projects, incorporating a culture of DevOps and continuous integration,” said Rahul Singh, President and Head – Financial Services, HCL Technologies. Datawave also brings in significant banking industry expertise, added Singh.

In a recent market study done by HCL, 81% of organizations said they were overwhelmed with the volume and variety of data needed to drive digital transformation, said Anand Birje, corporate vice president and head – digital & analytics, HCL Technologies. "Datawave’s automation solutions will significantly help our clients accelerate their digital journey through a robust data architecture,” he added.

The company however, did not provide any financial details of the acquisition.

“The synergies between Datawave’s customer-centric, enterprise data integration platform and HCL’s technology leadership and deep engineering capabilities will deliver unparalleled value to our clients,” said Mark Butterworth, CEO, Datawave.