Competition Commission clears HCL-Geometric deal

Competition Commission has cleared IT company HCL Technologies' equity swap deal to buy the business of Geometric Ltd. The deal excludes Geometric's 58 per cent stake in 3DPLM Software Solutions Ltd - a joint venture with Dassault Systems. The fair trade regulator has also approved the merger of remaining undertaking of Geometric with 3DPLM. Dassault is to have 100 per cent stake in the 3DPLM. Competition Commission of India (CCI) "approves acquisition by HCL of certain undertakings of Geometric & merger of remaining undertaking of Geometric with 3DPLM," the watchdog said in a tweet.
In April, HCL Technologies and Geometric Ltd signed an agreement for the deal. As part of the transaction, HCL would issue 10 shares to shareholders of Geometric for every 43 shares held by them in the company. In total, HCL would issue 15,640,546 equity shares of Rs 2 each, the IT firm had said while announcing the deal. Geometric specialises in engineering solutions, services and technologies.

Related posts

Latest News

Talking on the phone while driving is not only distracting, it can also prove to

Lenovo is expected to launch a mid-range smartphone, allegedly dubbed the Moto M

Sony Corp cut its annual profit outlook due to losses related to the sale of its

Dell moved to the No 1 spot for server shipments in the second quarter of 2016,

There is one feature of Google's mobile platform Android, which presents a stron

Soon you will able to withdraw your pension using your smartphone. Pensioners an

Samsung Electronics chief executive Kwon Oh-hyun on Tuesday said the South Korea

Lenovo seems to be betting big on convertible laptops. The company expanded its

Technology solutions provider Dell India has announced the city level winner of

Ahead of the festive season, handset maker Micromax will launch four 4G smartph