HCL Tech completes acquisition of 51% stake in German IT company GBS

HCL Technologies on Thursday said it has completed the acquisition of a 51 per cent stake in German IT consulting company Gesellschaft fr Banksysteme GmbH (GBS).
In December, HCL Technologies had announced that it will acquire 51 per cent stake in GBS.

Deutsche Apotheker- und rztebank eG (apoBank), the largest cooperative primary bank in Germany, will own the remaining 49 per cent stake.

The total purchase price of the transaction is 99,000 euros (about Rs 84.4 lakh).

“The aforesaid acquisition has been completed effective January 5, 2022,” HCL Technologies said in a regulatory filing on Thursday. PTI