HCL Tech’s UK Unit Picks Up Stake In Kalido For $2 Million

IT services major HCL Technologies on August 8 said its UK subsidiary has picked up minority stake in London-based Kalido.

HCL Technologies UK Ltd will acquire 2.8 million shares of Om Mobile Ventures (that operates as Kalido), which would be about 6.64 percent stake on a fully diluted basis, a regulatory filing said.

The cost of acquisition was $0.71 a share, aggregating to about $2 million (over Rs 14 crore), it added.

“This investment could provide HCL with an opportunity to expand network building capabilities and features to customers for the newly acquired IBM Connections as well as HCL’s Digital Workplace solutions,” it said.

Om Mobile Ventures was founded in 2014 and offers a real-time opportunity engine that uses artificial intelligence software to make meaningful connections.

Kalido is currently in pre-revenue product development stage, the filing said.—Money Control