HCL Technologies acquires 51% stake in German IT consulting firm gbs

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HCL Technologies and Deutsche Apotheker- und Ärztebank eG (apoBank), a German cooperative primary bank, have acquired IT consulting company esellschaft für Banksysteme (gbs) from Atruvia.

While the Indian IT services provider has acquired a 51% stake, apoBank has acquired an additional stake of 39% to increase its ownership to 49%.

According to HCL Technologies, the acquisition will give an edge to its existing capabilities to expedite digital transformation and further boost its scale in Germany.

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HCL Technologies said that its existing strengths combined with the portfolio of gbs will allow it to grow within the German financial services sector.

HCL Technologies acquires 51% stake in German IT consulting firm gbs

HCL Technologies acquires 51% stake in German IT consulting firm gbs. Photo courtesy of Mohit Agarwal/Wikipedia.org.

The Indian IT company and apoBank plan to utilize gbs’ in-depth knowledge of the cooperative banking sector and regulatory expertise to provide next-generation services to its clients.

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Sudip Lahiri — Senior Vice President and Head of Financial Services, Europe, HCL Technologies said: “Germany is one of the largest economies in Europe and is, therefore, a strategic region for HCL.

“We’re excited to welcome gbs to HCL and look forward to playing a significant role in shaping the digital transformation journey and providing next-generation services to our German clients leveraging Fenix 2.0 (HCL’s industry leading digital transformation framework).

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“There’s a great alignment between both organizations and together with gbs, HCL will further augment expertise in the financial services portfolio which will expand our footprint in the region.”


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