Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | HCL Acquires Aerospace & Defense Engineering Services Provider Butler America Aerospace, LLCAcquisition will strengthen HCL's position in the Aerospace and Defense Engineering Services space
By: HCL Technologies Butler Aerospace serves customers primarily in the Aerospace and Defense industries in the US, to whom it provides Engineering & Design services in the areas of Mechanical and Structural Design, Electrical Design, Tool design and aftermarket engineering services With over 900 highly skilled engineers and 7 design centers in the US, Butler Aerospace has a marquee list of clients in the Aerospace & Defense industries and works with OEMs and their Suppliers. The acquisition will bolster HCL's capabilities in this space and access to clients with large R&D spends. The consideration for the proposed transaction is USD 85.0 million to be paid in cash. Butler Aerospace had revenues of $85.4 million for the year ending Dec 31, 2015 at EBIT of 12.2%. The transaction when consummated is likely to be EPS accretive. The acquisition is subject to regulatory approvals including CFIUS approval in the US, along with other customary closing conditions. It is expected to be completed by December 31, 2016. About HCL Technologies HCL Technologies is a leading global IT services company working with clients to impact and redefine the core of their businesses. Since its emergence on the global landscape after its IPOin 1999 and listing in 2000, HCL Technologies, along with its subsidiaries, today operates out of 32 countries and has consolidated revenues of US$ 6.6 billion, for 12 Months ended 30 September, 2016. For the 21st Century Enterprise, HCL focuses on business model transformation, underlined by innovation and value creation, offering an integrated portfolio of services including BEYONDigitalTM, IoT WoRKSTM, Engineering Services Outsourcing and Next–Generation ITO that focuses on integrated infrastructure services, applications services and business services. HCL leverages DRYiCETM, its third generation autonomics and orchestration platform, global network of integrated innovation labs, and global delivery capabilities to provide holistic multi–service delivery in key industry verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing Entertainment, Retail CPG, Life Sciences Healthcare, Oil Gas, Energy Utilities, Travel, Transportation Logistics and Government. With 109,795 professionals from diverse nationalities, HCL Technologies focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com For enquiries please contact: Global Ajay Davessar HCL Technologies Ltd. ajay.davessar@ +911206126000 End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|