HCLTech’s subsidiary, HCLSoftware, is set to acquire a 100% stake in the French software company Zeenea for a valuation of 24 million euros. This move is aimed at expanding its data and analytics business offerings.
The acquisition, structured as an all-cash deal, is anticipated to be finalized by September 2024, as stated in a regulatory filing by HCLTech.
Kalyan Kumar, the Chief Product Officer of HCLSoftware, highlighted that this acquisition will allow the company to provide a unified data intelligence solution. This solution is designed to assist enterprises in discovering, governing, connecting, managing, and making better use of data in their data engineering and GenAI processes.
The filing also mentioned that HCLSoftware’s Actian Data Platform has experienced significant growth in Hybrid Data Management and Integration in recent years. With the addition of metadata management, data catalog, and governance capabilities, customers will be able to enhance their use of the data platform.
Zeenea, founded in 2017 and headquartered in Paris, is known for its intelligent data discovery platform that supports metadata management applications. The company reported a revenue of 2.6 million euros in CY2023.
Marc Potter, CEO of Actian and Portfolio General Manager of HCLSoftware’s Data and Analytics division, emphasized that Zeenea’s data catalog and governance features will expand their portfolio, enabling them to offer a comprehensive, single-vendor solution tailored to the needs of today’s data-driven enterprises.
