The move is expected to help it massively improve its services in a range of sectors including banking and manufacturing.
In a recent announcement on Wednesday, September 6, Indian multinational IT services company HCL Technologies disclosed that it had acquired Datawave, an automation-driven data management platform, for an undisclosed amount. Developed as a flagship product by ETL Factory Limited, Datawave can be extended to several other platforms including big data, making it a coveted product for IT majors.
Rahul Singh, President and Head – Financial Services of HCL Technologies said that the acquisition would give HCL control over Datawave and all of its varied products, which would help improve its ability to work with clients on any mission-critical data transformation projects that they might have, and build a culture of DevOps and continuous integration.
Being a market leader in the field of data migration and integration solutions, Datawave is known for its expertise in automation and digital transformation in several enterprise data management stacks such as Informatica, among others. As such, its expertise in these domains, along with its vast experience and mastery of operating in the banking industry would prove to be a boon for HCL.
In addition to the takeover, the IT major also announced a partnership with a London based products and solutions company called Alpha Insight, which is yet another leading firm with expertise in operational intelligence and business flow monitoring. As part of the partnership, it also purchased certain assets of the company, which would help HCL provide cutting edge A.I solutions for organisations planning on transforming themselves using AI technology, according to Kalyan Kumar, Chief Technology Officer – IT Services at HCL Technologies.
Alpha Intelligence, founded in 2013, has a considerable experience in the banking sector, especially in delivery of operational intelligence, and has a wide range of offerings in its repertoire, including products, professional services, technical monitoring skills, and financial sector knowledge.
As such, as a result of the partnership, its expertise will now also be expanded to several other major industries like retail, manufacturing, utilities and life sciences.
Photograph: Creative Commons/Mohit Agarwal