{"id":8140,"date":"2016-04-01T18:13:41","date_gmt":"2016-04-01T18:13:41","guid":{"rendered":"http:\/\/mfgtechupdate.com\/?p=8140"},"modified":"2016-04-01T18:13:41","modified_gmt":"2016-04-01T18:13:41","slug":"hcl-technologies-to-acquire-geometric-ltd","status":"publish","type":"post","link":"https:\/\/mfgtechupdate.com\/hcl-technologies-to-acquire-geometric-ltd\/","title":{"rendered":"HCL Technologies to acquire Geometric Ltd"},"content":{"rendered":"

Geometric Technologies 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 Syst\u00e8mes (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.<\/p>\n

Simultaneously, Geometric Ltd., will be merged into 3DPLM Software Solutions Ltd (3DPLM), thereby giving 100% ownership of 3DPLM to Dassault Syst\u00e8mes (3DS), the current joint venture partner of Geometric in 3DPLM. In exchange for the ownership in Geometric Ltd., shareholders of Geometric Ltd shall receive one listed redeemable preference share of Rs. 68 each carrying dividend of 7% p.a. in 3DPLM against every one share of Geometric Ltd.<\/p>\n

The transaction is through a scheme of arrangement and amalgamation and is subject to approval from shareholders and creditors, and various other statutory and regulatory authorities including the relevant courts.<\/p>\n

As consideration for the scheme of arrangement and amalgamation, shareholders of Geometric Ltd. will receive the following:<\/p>\n

\"Screen<\/a><\/p>\n

Geometric Ltd\u2019s shares will be extinguished as a result of this scheme of arrangement and amalgamation.<\/p>\n

All shareholders of Geometric Ltd (including its Promoters) will receive the same consideration per share of Geometric. Appropriate transaction documents have been signed which include representations and warranties from the Promoters of Geometric Ltd to HCL Tech and Dassault Syst\u00e8mes (3DS).<\/p>\n

Rationale for the Transaction<\/strong><\/p>\n

HCL\u2019s global engineering services business, with a revenue of around $1.2 billion in calendar 2015, is a leader in this space, and has an industry leading position in hardware & software engineering, product development & testing, embedded, digital and mechanical engineering. The acquisition strengthens HCL\u2019s presence significantly, in the PLM consulting as well as mechanical and manufacturing engineering space. It also significantly strengthens HCL\u2019s Automotive and Industrial practices.<\/p>\n

HCL will inherit several unique Geometric processes, methodologies and intellectual properties in PLM and digital manufacturing, along with highly specialized professionals in the PLM consulting as well as mechanical and manufacturing engineering space. The transaction thus creates a unique portfolio of end\u2013to\u2013end engineering and R&D capabilities across the full product lifecycle \u2013 hardware, software, mechanical & manufacturing engineering and PLM consulting. This in turn will benefit both Geometric\u2019s employees and customers.<\/p>\n

G.H Rao, President, Engineering and R&D Services, HCL Technologies<\/strong>\u00a0said, \u201cWe are looking forward to an exciting journey and extend a warm welcome to the employees, customers and partners of Geometric. With the broad end\u2013to\u2013end capabilities and rich experience across PLM consulting, mechanical and manufacturing engineering that Geometric brings in, the synergies allow us to take advantage of the rapidly growing manufacturing engineering and PLM services market. It also provides several cross\u2013sell and up\u2013sell opportunities as the customers will benefit from a unique services portfolio of end\u2013to\u2013end engineering, R&D, digital technologies and internet of things capabilities.”<\/p>\n

Manu Parpia, CEO and MD of Geometric Ltd.<\/strong>\u00a0said, \u201cI welcome this as a truly synergistic transaction, as both our employees and customers will benefit. Our customers will have access to a wide range of engineering services which complement Geometric\u2019s offerings. Geometric\u2019s employees will have the opportunity for growth as they can serve HCL Tech\u2019s large customer base\u201d<\/p>\n

JM Financial Singapore Pte Ltd acted as the exclusive corporate financial advisor to Geometric Ltd.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Geometric Technologies 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 Syst\u00e8mes (3DS) (3DPLM Software Solutions Limited (3DPLM)). In […]<\/p>\n","protected":false},"author":1,"featured_media":593,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[305,616,688],"class_list":["post-8140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-cam","tag-geometric-ltd","tag-hcl-technologies"],"_links":{"self":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts\/8140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/comments?post=8140"}],"version-history":[{"count":0,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts\/8140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/media\/593"}],"wp:attachment":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/media?parent=8140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/categories?post=8140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/tags?post=8140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}