IBM to sell some of its software products to HCL for $1.80 billion

Vastavam web: International Business Machines Corp (IBM.N) said on Thursday it will sell some of its software products business to Indian software services exporter HCL Technologies for $1.80 billion. The company will divest seven of its products, including its secure device management product BigFix, marketing automation product Unica and workstream collaboration product Connections. “The products that we are acquiring are in large growing market areas like security, marketing and commerce which are strategic segments for HCL,” said C Vijayakumar, Chief Executive Officer of HCL.

HCL’s revenue from software services business, however, rose about 21 percent to 87.11 billion rupees, leading the company to beat its second-quarter profit.