HCL acquires Capital Stream for $40 million

New Delhi, Feb 20: HCL Technologies, today said it has acquired US-based Capital Stream Inc through an all cash deal worth about 40 million dollars.

Capital Stream is a leader in providing comprehensive end-to-end lending and straight through processing solutions to commercial banks and finance companies in North America, including Prospecting and Sales, Credit Analysis, Due Diligence, Documentation and Portfolio Monitoring, said a statement. HCL's acquisition is a part of its proactive and selective strategy focused on achieving long term goals and to invest in companies and platforms that will create more value in key vertical sectors and micro verticals.

HCL follows a thorough and diligent selection process while choosing the targets for acquisition, and looks at it from a long-term strategic intent as opposed to being opportunistic.

UNI