Indian-based IT services business, HCL Technologies and Sumeru Equity Partners have come together to buy an open source database entity. They have bought Actian for £330m from current owner Garnett Helfrich Capital.
As per the understanding, there is no equal sharing of ownership. If HCL owns 80 per cent ($264mn) of Actian then SEP has the remaining 20 per cent ($66m).
Actian is known for Vector, which it claimed is the world’s fastest columnar database. It also owns popular hybrid cloud data integration platform called DataConnect. Its hybrid database, X, merges Ingres relational and Vector analytics.
Operating as a separate entity, it will now be led by current CEO and President, Rohit De Souza.
Commenting on the acquisition, C Vijayakumar, HCL’s President and CEO, said, “The buy will beef up its data management tools and platforms to make a hybrid system – combining transactionsal and analytics data.” Read more…