PowerObjects has been acquired
by HCL Technologies
Headquartered in Minneapolis, Minnesota, PowerObjects is a professional services firm focused on providing service, support, education and add-ons for Microsoft Dynamics CRM. The company has won Microsoft’s prestigious ‘Partner of the Year’ award three of the last four years, and is one of Microsoft’s leading partners for Dynamics CRM.
HCL Technologies Ltd. (NSEI: HCLTECH) is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. HCL provides transformational IT and software services to clients worldwide, underlined by innovation and value creation. HCL offers an integrated portfolio of services including software-led IT solutions and complex application management.
With the acquisition, HCL and PowerObjects will merge to create one of the largest Microsoft Dynamics CRM practices in the world. The acquisition will create an environment where PowerObjects will be able to utilize HCL’s global size and scale to expand its business within North America as well as other geographical markets. HCL is looking to accelerate its growth in Dynamics as part of its overall CRM strategy by leveraging PowerObjects’ expertise and dedication to Dynamics CRM. The acquisition will enhance HCL’s 360-degree relationship with Microsoft by further aligning to Microsoft’s mobile-first, cloud-first vision, of which Dynamics CRM is a central component.
“We are excited that HCL will carry on the PowerObjects heritage of innovation,” said Dean Jones, CEO of PowerObjects. “As clients attempt to grow their revenues by improving their CRM processes and technologies, we believe that blending our teams and areas of expertise will result in increasingly transformational products and services.”
HCL announced that the total cash consideration will be approximately $46 million.
Franklin Partners initiated this transaction and acted as exclusive financial advisor to PowerObjects and its shareholders.