Competition Commission of Indian (CCI) has cleared HCL Technologies’ equity swap deal to buy the business of Geometric. The deal excludes Geometric’s 58% stake in 3DPLM Software Solutions - 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% stake in the 3DPLM.
In April, HCL Technologies and Geometric 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.
HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.
