Published By : 06 Sep 2017 | Published By : QYRESEARCH
HCL Technologies has recently made an announcement regarding the acquisition of DataWave, an automation-driven data management platform in order to accelerate the data integration and migration for their customers. The amount pledged for the deal is yet to be disclosed. On Tuesday, Sep 05, 2017, HCL, one of the leading software service firm across the world, stated that it has decided to procure ETL Factory Ltd., a U.K. based enterprise that owns DataWave, an innovative platform for data automation, which enables the customers to execute large scale, complicated data-integration and data-migration projects in a faster, leaner, and smarter method.
Rahul Singh, the President and Head of Financial Services at HCL Technologies, stated that the procurement of DataWave and its suite of products will bolster the capability of HCL to collaborate with customers on their projects, including critical data transformation, continual integration, and incorporation of culture of DevOps. DataWave is also expected to bring in noteworthy expertise used in the banking industry, he added.
In a recent market research carried out by HCL, more than 80% of the organizations stated that they were overwhelmed with the variety and the volume of the data required to drive digital transformation. Anand Birje, the corporate VP and head of digital and analytics at HCL Technologies, stated that the automation solutions of DataWave will help their customers accelerate their digital journey significantly using a strong data architecture. The enterprise, however, did not provide any finance related details about the acquisition.