India’s fourth-largest IT service provider HCL Technologies has acquired CRM company PowerObjects for $46 million.
The Noida, India-based HCL has offices outside of Square One in Mississauga, ON.
The acquisition is expected to improve on HCL’s application services business, which Nearshore Americas reports makes up 40 per cent of the company’s revenue.
Minneapolis, MN-based PowerObjects focuses on providing Microsoft Dynamics CRM service and support.
This would be the fourth acquisition this year for HCL. PowerObjects’ 250 employees will be joining the new parent company as part of the deal.
According to Nearshore, HCL’s move is an attempt at maintaining its market share in the services space. The company plans to launch new offerings in social, mobility, analytics and cloud.