HCL Tech completes acquisition of 51% stake in Germany-based Gesellschaft für Banksysteme GmbH; Stock surges

7 Jan 2022 , 11:58 AM

HCL Technologies has completed acquisition of 51% stake in German IT Consulting Company, Gesellschaft für Banksysteme GmbH (“GBS”).

The acquisition was completed on January 05, 2022.

In December last year, HCL Tech and Deutsche Apotheker- und Ärztebank eG (apoBank) had inked an agreement for the acquisition of a 51% stake in GBS.

With the completion of the transaction, HCL Tech now holds the controlling stake in GBS.

Notably, apoBank who currently holds a 10% stake in GBS, plans to increase its stake to 49%.

At around 11.56 am, HCL Tech was trading at Rs1292.65 per piece up by Rs7.35 or 0.6% on Sensex. The stock has touched an intraday high of Rs1298.75 per piece.