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KRChoksey Report
HCL Technologies Ltd. has announced its intent to acquire Australia-based IT, business and management consulting firm DWS Ltd.
DWS - listed on the Australian Securities Exchange (ASX) - employed 772 people as of June-end, has offices in Melbourne, Sydney, Adelaide, Brisbane and Canberra and provides a range of IT services including Digital Transformation, Application Development and Support, Program and Project Management and Consulting, mainly in Australia and New Zealand.
The acquisition will be done by a process of Scheme of Arrangement to be approved by courts in Australia.
It will be subject to the approvals of Australia’s Foreign Investment Review Board, Australian Competition Commission and New Zealand’s Overseas Investment Office.
The transaction will also require approval of DWS shareholders.
The acquisition will be done through HCL Australia Services Pty. Ltd., a wholly owned step-down subsidiary of HCL Technologies.
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