DBT Bureau
Bengaluru, 9 August 2024
HCLSoftware, the software business division of HCLTech, on Friday said it would acquire Zeenea, a French data catalogue and governance solutions firm for a total enterprise valuation of Euro 24 million (around USD 26.5 million).
Through this acquisition, HCLSoftware will enhance its Data & Analytics business (Actian), the company said in a filing.
HCLSoftware Actian Data Platform has seen strong growth in Hybrid Data Management and Integration over the last few years. Adding metadata management, data catalogue, and governance capabilities will enable customers to consume these capabilities of the data platform, it said. This acquisition is expected to close by September this year.
Under HCLSoftware, the Actian Data Platform has organically grown in hybrid data management and integration over the last couple of years. The addition of metadata management, a data catalogue, and other features for governance will enable customers to exploit such enhanced capabilities, the company’s regulatory filing said.
This acquisition aims to enable HCLSoftware to provide a unified data intelligence solution, helping enterprises better discover, govern, connect, manage, and leverage their data in data engineering and GenAI efforts.
“Metadata management is becoming critical for our customers to accelerate their GenAI initiatives across business functions. Zeenea will further accelerate the growth in the data and analytics space for HCLSoftware. It will enable HCLSoftware to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage, and better leverage data in their data engineering and GenAI journeys,” said Kalyan Kumar, Chief Product Officer, HCLSoftware.
Commenting on the development, Luc Legardeur, CEO and Co-founder of Zeenea said, “Incorporating Zeenea’s capabilities with HCLSoftware will deliver a differentiated solution for customers. Combining HCLSoftware data analytics, database and data management solutions with our knowledge graph, data catalogue and enterprise data marketplace will offer customers a tailored approach to data management.”
Zeenea SA was founded in 2017 and is based in Paris, France, with subsidiaries in Belgium and the USA. The company reported Euro 2.6 million in revenue in 2023.
