your password has been reset successfully, Please login again.

HCL Buys a Minority Stake in UK-based, Kalido

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.
BY BEx Bureau
BusinessEx
Aug 09, 2019

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.

Please add your Comment
SIMILAR News
August 20, 2019
MPOWER, which is backed by the PE firm, Zephyr Peacock, will utilise the funds to widen its reach to ...More
By Jaspreet Kaur
August 20, 2019
MPOWER, which is backed by the PE firm, Zephyr Peacock, will utilise the funds to widen its reach to ...More
By Jaspreet Kaur
August 17, 2019
With Sistema Asia Capital’s investment, the aggregate equity funding of Lendingkart has surged to $1 ...More
By Jaspreet Kaur
August 16, 2019
UK-based company sold 67.1 million stakes at INR 480.7 epiece, according to the stock-exchange data. ...More
By Jaspreet Kaur
August 08, 2019
The transaction sum is related to the valuation of HCL Infosystems, which is INR 215 crore on cash-f ...More
By Jaspreet Kaur
June 01, 2019
The paper company is bidding adieu to the Indian market after operating eight years in the country a ...More
By Jaspreet Kaur
May 13, 2019
SRF has proclaimed that will sell its engineering plastics entity to DSM for INR 320 crore ...More
By Jaspreet Kaur
September 21, 2018
Atman's Founder Chinmay Mirji will join Bengaluru office of HSA as a partner. ...More
By Vaishnavi Gupta
September 11, 2018
This partnership will include developing and delivering conversational AI platform for global enterp ...More
By Vaishnavi Gupta
August 03, 2018
Presently, Goibibo comes with features like seat and meal selection, auto check-in and hotel reviews ...More
By Shah Mohsin
July 31, 2018
The Mumbai-based firm said it will consume the raised capital fortify its existing product portfolio ...More
By Shah Mohsin
July 26, 2018
The fresh capital will help Srinivasa expand its layer, broiler and breeding operations by setting u ...More
By Shah Mohsin