HCL Tech Ltd informed the exchanges on October 11, 2019, that it has completed acquisition of Sankalp Semiconductor Pvt. Ltd. HCL had announced the acquisition on Sep 9, 2019. The acquisition of Sankalp Semiconductor has been done for for Rs 180cr. The target co. is an advanced technology design services provider offering comprehensive digital & mixed signal SoC services and solutions from concept to prototype in the semiconductor space.

— Indiainfoline

As part of the transaction, HCL also purchased shares in Sankalp held by Stakeboat Capital Fund – 1 (Stakeboat), one of Sankalp’s existing shareholders.

J Sagar Associates (JSA) advised Sankalp Semiconductor Private Limited and its shareholder Stakeboat Capital Fund in connection with the acquisition of its shares by HCL Technologies Limited (HCL). JSA’s team was led by partners Gerald Manoharan and Manuel Jose, and associate Sonakshi Das.

Update 12 December 2019: Khaitan & Co acted for HCL Technologies Limited with partner Bharat Anand, partner Tanvi Kumar, senior associate Nikita Bhuwania and senior associate Akhil Sharma.

2019-10-24

Deal value: Rs 180 crore

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