HCL Technologies yesterday said it has signed an agreement to acquire a Bengaluru-based privately-held engineering services firm, Concept to Silicon Systems (C2SiS), for an undisclosed amount. Also Read - HCL acquires data management platform DatawaveAlso Read - HCL launches AI-powered services for enterprises
“C2SiS today (Monday) is empowering strategic change in a broad range of industries with its specialization in system-on-chip and system design services and its client list includes Fortune 100 and Fortune 500 companies,” HCL Technologies said in a regulatory filing with the Bombay Stock Exchange (BSE). Also Read - HCL Infosystems in talks to distribute Apple products in India
“With this strategic acquisition, HCL will be able to leverage C2SiS’ technical prowess in areas such as System-on-Chip, Physical design and will further extend its leadership position in the semiconductor industry,” the company said in the filing.
Shares of HCL Technologies were trading at Rs.846.95 — up 0.55 percent from their previous close on the BSE.
HCL yesterday reported net profit of Rs.1,726 crore for first quarter (July-September) of its fiscal 2015-16, posting 7.9 percent decline year-on-year (YoY) and 3.2 percent sequentially. Revenue for quarter grew 15.6 percent YoY and 3.3 percent sequentially to Rs 10,097 crore under the Indian accounting standard.