HCL Technologies to acquire Hungarian data engineering firm Starschema
HCL Technologies has agreed to acquire Starschema, a Hungarian provider of data engineering services, for $42.5 million in cash.
Based in Budapest, Starschema offers consulting, technology, and managed services in data engineering to major companies in the US and Europe.
Tamas Foldi — Founder and CEO of Starschema said: “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.
“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. This strategic move also represents exemplary career growth opportunities for our people.”
According to HCL Technologies, the acquisition combines Starschema’s high-value capabilities and expertise focused on data with its own existing presence in industry segments that are going through data-driven transformation.
Through the acquisition, the Indian IT services provider hopes to improve its data engineering capabilities and solutions, which in turn will expedite the growth of Mode 2 services in digital engineering. It will also boost HCL Technologies’ presence in Central and Eastern European and the company’s ability to scale.
Vijay Guntur — HCL Technologies President of Engineering and R&D Services said: “Starschema will strengthen our data engineering capabilities, providing us with the ability to leverage its solutions and talent in Central and Eastern Europe.
“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 specialized talent pool in a strategic growth area for HCL.
“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.”
The deal, which is subject to regulatory approval from the Hungarian Ministry of Innovation and Technology, is anticipated to be completed by March 2022.