Monday, 21 September 2020 12:06

Another local IT company falling into foreign hands

By
HCL Technologies executive vice president and ANZ country manager Michael Horton HCL Technologies executive vice president and ANZ country manager Michael Horton

India-based HCL Technologies has agreed to acquire ASX-listed DWS.

IT services company was established nearly 30 years ago by its current CEO Danny Wallis.

After growing from its Melbourne base into Sydney, Brisbane, Adelaide and Canberra, DWS will be joining the seemingly endless list of Australian IT companies that either move offshore or fall into foreign ownership.

The terms of the transaction (which is expected to close in December 2020 if conditions are met) were not disclosed, but DWS had a financial 2020 revenue of almost $170 million dollars.

Assuming there are no retrenchments, the acquisition will increase HCL's Australian headcount by nearly 45%.

"We are excited for this expansion of HCL Technologies in Australia and New Zealand and are confident that our combined strengths will further accelerate the digital transformation journeys of our clients and innovations for their end customers," said HCL Technologies executive vice president and ANZ country manager Michael Horton.

"HCL has invested in the region for over 20 years and is committed to enabling digitalisation and growing the local ecosystem. DWS has forged a sterling reputation, powered by highly talented consultants who enable organisations to be at the cutting edge of technology. We look forward to welcoming the DWS team to HCL and creating enhanced global learning and career opportunities for them."

Wallis said "We are delighted the DWS team is joining HCL. As a leading name in the global technology industry and with over 150,000 employees across 49 countries, they bring best in class technology capabilities, global scale and a wide network of clients and partners across industries.

"This acquisition represents an outstanding outcome for all DWS stakeholders: shareholders, employees, clients and other business partners."


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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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