We are happy to see one of our valuable clients, Geometric Global, entered into two major deals. 🙂
- HCL Tech will acquire Geometric’s IT services business for Rs 1,283 crore ($200 million) in an all-share deal.
- Geometric also agreed to offload its 3DPLM ownership to Dassault Systèmes for Rs 441 crore.
Below is excerpt from the media release that Geometric Global published on its website.
MUMBAI, India. April 01, 2016: Geometric Ltd (Geometric) is pleased to announce the transfer of its business to HCL Technologies Ltd (HCL Tech). Under the transaction, the entire business of Geometric Ltd will be transferred to HCL Tech by way of demerger, except for its 58% share in the joint venture with Dassault Systèmes (3DS) (3DPLM Software Solutions Limited (3DPLM)). In return, shareholders of Geometric Ltd will receive shares in HCL Tech in a swap ratio of 10 equity shares of HCL Tech for every 43 equity shares of Geometric Ltd.
As per media reports, Geometric shares surged nearly 20% to hit a 52-week high today as investors reacted positively.
Being Geometric Global’s web technology partner, rtCamp has witnessed hard work that they put for their products and customers. We wish them luck for exciting journey ahead.