HCL Technologies has recently said that the company has bought a 6.64 per cent stake for INR 14 crore in UK-based AI business app, Kalido, according to a media report.
The investment will boost its network capabilities, improve customer features and enhance its digital workplace solutions, HCL Technologies said in its statement, as reported by the daily news, VC Circle.
According to the cited media report, the transaction had done through HCL Technologies UK Ltd., a subsidiary of HCL.
Om Mobile Ventures, which administers the app Kalido, was established in 2014. Kalido is a matching platform that facilitates common masses in connecting within their business, charity or other people to create useful connections.
The company is presently in its pre-development phase.
The Indian IT company, HCL has done a large chunk of acquisitions to date. Earlier in March, the company had decided to buy Strong-Bridge Envision, which is based in the US, to increase its digital capabilities.
In December 2018, the company made one of the biggest transactions by procuring some of the software enterprises from IBM for $1.8 billion, according to the cited report.
In the previous year, the company had acquired three companies. It had decided to buy Germany-based, HD International Group for the sum $35 million, C3i Solutions for $60 million and US-headquartered, Actian Corporation for $330 million.