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5 October 20204 minute read

DLA Piper advises HCL Technologies on proposed acquisition of DWS Limited

Global law firm DLA Piper is advising HCL Technologies Limited (HCL Technologies) on its proposed AUD162 million acquisition of 100% of the shares in DWS Limited (DWS) by scheme of arrangement. The scheme is conditional on obtaining necessary regulatory approvals (including FIRB approval), approval of DWS shareholders, court approval and other customary conditions.

HCL Technologies is listed on the National Stock Exchange of India (NSE) with a market capitalization of over USD29 billion.

HCL Technologies is a next-generation global technology company that helps enterprises reimagine their businesses for the digital age. Through its worldwide network of R&D facilities and co-innovation labs, global delivery capabilities, and over 150,000+ ‘Ideapreneurs’ across 49 countries, HCL delivers holistic services across industry verticals to leading enterprises, including 250 of the Fortune 500 and 650 of the Global 2000.

DWS is an ASX-listed Australian-based IT services company which provides a suite of integrated solutions, including consulting services, such as custom application development and project management and digital solutions, including data automation and design services.

DLA Piper M&A Partner David Ryan said “we are delighted to have been able to assist our global client HCL Technologies with the proposed acquisition of DWS. With one of the most active technology M&A practices globally and our strong track record of advising on cross-border deals, DLA Piper is perfectly placed to advise HCL Technologies on its expansion in Australia and New Zealand through the proposed acquisition of DWS.”

This deal comes on the back of DLA Piper recently advising several other international clients on complex global technology transactions, including advising ASX-listed Nearmap Ltd on its AUD90 million underwritten placement and share purchase plan, HMI Capital on its investment in ASX-listed Ooh!media, Webjet Limited on its AUD346 million equity raise and EUR100 million convertible note offering and US fintech Credible Labs Inc. (ASX: CRD) on its AUD585 million merger with NASDAQ listed Fox Corporation.

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