HCL Technologies, a globally leading technology firm, has completed the final agreement formalities and announced acquiring Hungarian data engineering services firm Starschema based in Budapest. This strategic acquisition will aid in the progression of HCL’s digital data processing expertise on a data engineering basis and boost out the firm’s position across Central and Eastern Europe.
Starschema is a Hungarian firm based in Budapest and offers consulting, technology, and managed data processing services to a number of U.S. and European companies on the 2000 list of the largest firms compiled by Forbes magazine (Global 2000).
This acquisition will combine in Starschema’s valuable expertise as well as data processing experience with the HCL’s presence in the sector’s undergoing data-powered shifting. Additionally, this transaction will further power out the HCL’s data processing prospects and integral part of their digitalized services as well as future-generation product offerings.
Tamas Foldi, Founder and CEO of Starschema expressed his views regarding the acquisition commenting: “Joining HCL will allow us to further expand our data analysis capabilities while maintaining our strategic direction, and thus provide a wider range and even higher quality services to our customers.”
Tamas added: “As part of HCL’s full range of technology services, leveraging our expertise in data analytics and the latest data management technologies will enable us to develop fast, scalable solutions to meet the data management challenges of our customers and make our customers more efficient and profitable. At the same time, this strategic move provides unparalleled career opportunities for our employees.”
Vijay Guntur, President of Engineering and R&D Services at HCL Technologies expressed his views regarding the acquisition stating: “Relying on Starschema’s solutions and expertise, we have the opportunity to further develop our computing capabilities and capabilities in Central and Eastern Europe. Thanks to Starschema’s expertise, HCL’s data processing competencies are further expanded in our integrated supply centers in different regions of the world. There is a constant high demand for skilled data engineers, and Starschema employs outstanding talent in an area of growth that is strategically important to HCL.”
Vijay also added: “As a result of the acquisition, HCL will be able to provide data processing advice and so-called Nearshore (geographically and culturally close/similar location) to provide access to its digital data processing services to a wide range of customers.”
The transaction is subjected to regulatory approval from the Department of Innovation and Technology (ITM) and is expected to close in March 2022.
