HCL Technologies Ltd. is acquiring some of International Business Machines Corp.’s software products for $1.8 billion, the companies said Thursday.
The deal, which is expected to close by the middle of 2019, includes IBM’s Appscan, Unica, Notes and Domino products. HCL 532281, -3.29% , a global technology company based in India, said the software products involved represent a total addressable market of more than $50 billion.
“The products that we are acquiring are in large growing market areas like security, marketing and commerce which are strategic segments for HCL,” HCL Chief Executive C Vijayakumar said in prepared remarks.
IBM IBM, +1.90% said over the last four years it has been prioritizing investments to develop its artifical intelligence, hybrid cloud and cybersecurity businesses, and trimming some of its other products that don’t fit that mold.
An expanded version of this report appears on WSJ.com.
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