HCL Tech acquires Hungarian data engineering services firm Starschema for $42.5 mm

Noida-headquartered IT giant HCL Technologies (HCL) announced on Thursday that it has signed a definitive agreement for the acquisition of Starschema, a data engineering services provider, based in Budapest, Hungary. 

HCL will acquire a 100 per cent stake in Starschema for $42.5 million. The acquisition is expected to be completed in March 2022. Over 200 engineers are part of the transaction. The transaction is subject to regulatory clearance from the Hungarian Ministry of Innovation and Technology.

HCL noted, in an official statement, that this strategic acquisition will bolster HCL's capability in digital engineering -- driven by data engineering -- and increase its presence in Central and Eastern Europe. 

With this acquisition, HCL hopes to combine Starschema's high-value capabilities and data-focused expertise with its existing presence in industry segments undergoing data-driven transformation.

In addition, HCL will strengthen its position in data engineering, which is an integral part of the company's digital engineering capabilities and next-generation offerings. HCl will also gain access to Starschema customers which are of strategic interest to HCL's Engineering and R&D business.

"Joining HCL will enable us to keep our strategic focus and expand our data engineering capacity to provide a greater breadth and depth of services to clients," said Tamas Foldi, Founder and CEO, Starschema. 

"As part of HCL's full spectrum of technology services, we will leverage our expertise in data engineering and emerging data technologies to solve companies' data challenges, through building fast, scalable solutions that make people more effective and companies more profitable," Foldi added. 

"Starschema's capabilities will further scale HCL's data engineering competencies at our integrated delivery centers across the world. Engineering talent will continue to remain in high demand, and Starschema offers a specialised talent pool in a strategic growth area for HCL," said Vijay Guntur, President, Engineering and R&D Services, HCL Technologies. 

"Following the acquisition, HCL will be able to offer data engineering consulting and near-shore access to digital engineering services to a wide base of clients," he added.

Shares of HCL Tech closed at Rs 1,337.55 apiece on BSE on Friday.

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