Date:18/02/2005 URL: http://www.thehindubusinessline.com/2005/02/18/stories/2005021803260300.htm

Back HCL Tech makes Aquila Tech fully-owned subsidiary

Our Bureau

New Delhi , Feb. 17

HCL Technologies today announced that it has acquired the balance 43 per cent stake in Aquila Technologies Ltd, India, thus making it a wholly-owned subsidiary of the company.

"The acquisition has been made through Shipara Technologies, a 100 per cent subsidiary of HCL Technologies," a company release said here.

Aquila is a Bangalore-based software solutions provider in the areas of engineering software and services such as CAD/CAE PDM/CPC, virtual engineering frameworks, visualization, image processing and computer game development. It currently executes projects in the engineering services space for companies in the aerospace, automotive, consumer appliances and electronics, information technology, medical electronics and semiconductor equipment manufacturing domains.

HCL Technologies had made a strategic investment to acquire 35.5 per cent stake in Aquila in May 2002, and subsequently acquired another 21.5 per cent holding in July 2004.