News in Brief
HCL Technologies to buy Ciscos network technology
The acquisition will help HCL meet the growing needs of its customer in the telecommunications industry.
HCL Technologies will acquire Cisco's self-optimising network technology for almost $50 million in cash. The acquisition will help the software services firm meet the growing needs of its customer in the telecommunications industry.
Cisco's self-optimising network technology uses machine learning and a set of applications to automate the Radio Access Network, HCL said.
The Noida headquartered company also stated that the assets it is buying provide automation technology to make the planning, configuration, and management of radio networks simpler and faster.
Sukamal Banerjee, Corporate Vice President, HCL Technologies, said: “HCL′s decision to make this acquisition comes in line with our Mode 3 strategy. The products and services will be included in our telecommunications offerings. This will gain further importance with 5G networks.”
As part of the acquisition, some employees who work on CISCO's business unit will also move to HCL. The deal is expected to be completed by January 2021.