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HCLSoftware, the software business division of HCLTech, announced it will acquire Jaspersoft, a business unit of US-headquartered Cloud Software Group and provider of a leading embedded analytics and pixel-perfect reporting platform.
According to the company statement, HCLSoftware's Data and AI division (Actian) is seeing increased demand for its metadata management, data catalog and data governance solutions and has demonstrated good growth over the last five years, driven by enterprise data management solutions. The acquisition, according to HCLTech, will further enhance Actian's proposition by enabling an end-to-end, immersive data management experience, while expanding reach through a large, global developer community comprised of data engineers and architects actively building, deploying and extending data platforms across the modern enterprise environment. Jaspersoft provides a comprehensive business intelligence and repoEing platform that enables organizations to create pixel-perfect reports, interactive dashboards and advanced visualizations. Jaspersoft offers services to governments, banking and financial services. Jaspersoft has approximately 115 employees globally who will transfer to HCLSoftware. "As GenAI adoption accelerates, our customers want business intelligence solutions that can deliver consistent analytics and reports and offer flexibility to fully own the analytics experience," said Marc Potter, CEO Actian and Portfolio General Manager of HCLSoftware's Data and AI division. "With Jaspersoft, Actian will provide seamless AI-powered embedded analytics with strong architectural flexibility, allowing high-volume pixel-perfect reports and interactive dashboards to be seamlessly integrated into customer-facing applications, driving scalable self-service business intelligence," Marc Potter added. "Jaspersoft has earned the trust of organizations worldwide through its embedded analytics capabilities," said Steven Schneider, General Manager of Analytics business unit at Cloud Software Group. "We believe HCLSoftware is a strong strategic owner for the business and look forward to Jaspersoft continuing to serve customers under HCLSoftware's ownership." The acquisition is expected to close within six months of signing, as per the HCLTech statement. The acquisition is subject to regulatory approvals across countries, including approval from Committee on Foreign Investment in the United States. The cost of acquisition is pegged at USD 240 million. (ANI)
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