HCL Technologies clarifies on acquisition of stake from Scandent Group

With reference to the news item appearing in a leading financial daily titled "HCL Tech sets sight 42% stake in Cambridge", HCL Technologies Ltd has clarified that the Company is looking at acquisition targets as a continuous process in line with its growth strategy. The Company at any point of time would be evaluating quite a few inorganic opportunities. These targets are at various stages of evaluation. Any acquisition would be driven by either the need to fill in the capability gap in the software side, or to acquire a Company in value BPO space provided that there is a potential to offshore.

However, in none of the targets the Company has reached a stage where the Company have concluded either to acquire or not to acquire, or reached any binding agreement with the potential target.

The Company wish to place on record that the Company, in line with its stated policy, does not comment on speculative reports or conjectures.

Source : Equity Bulls

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