HCL Technologies has signed a definitive agreement to acquire HPE's Telco Solutions business for up to $160 million, marking a significant expansion of its telecommunications capabilities. The acquisition, announced through a regulatory filing on December 18, 2025, will strengthen the company's engineering and AI-led network propositions for global Communication Service Providers (CSPs).

Strategic Acquisition Overview

The transaction involves acquiring the Telco Solutions business from Hewlett Packard Enterprise, which supports more than 1 billion devices through its solutions across 200+ deployments globally. This follows an earlier transaction between HCL Technologies and HPE in 2024, further expanding the company's telecommunications portfolio.

Business Capabilities and Technology

The Telco Solutions business delivers comprehensive telecommunications solutions in Operations Support Systems (OSS) and Public 5G to leading global CSPs. The acquisition includes software and services in Service Assurance, Orchestration Fulfillment, Automation Solutions, and Home Subscriber Network (HSS) Subscriber Data Management (SDM).

The business enables advanced AI-led closed-loop network automation for seamless network monetization, positioning HCL Technologies to accelerate network transformation and Network as a Service (NaaS) offerings. Approximately 1,225 employees and 260 contractors from various countries including India, France, Spain, Japan, Romania, Italy, Americas and APAC will transfer to HCL Technologies.

Strategic Impact and Market Position

According to Anil Ganjoo, Chief Growth Officer and Global Head of Telecom, Media, Publishing Entertainment and Technology at HCL Technologies, the acquisition uniquely positions the company to empower CSPs in their transformation into technology companies. The integration aims to strengthen the product-aligned model and accelerate the shift toward higher-value, IP-led services and non-linear growth.

Rami Rahim, Executive Vice President, President and General Manager, Networking at HPE, highlighted that the transaction will yield benefits for CSPs for many years to come, supporting the vital telecommunications sector through strategic focus and commitment to innovation.

Regulatory Filing and Compliance Details

The acquisition was formally disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015. The regulatory filing was submitted to both BSE Limited and National Stock Exchange of India Limited on December 18, 2025 at 8:00 p.m. IST.

The transaction is structured as an asset carve-out and is subject to regulatory approvals across countries, including approval from the Committee on Foreign Investment in the United States (CFIUS). The acquisition does not involve purchase of shares but rather a buyout of a division from HPE's Communications Technology Group.

HCL Technologies has officially signed a contract with ASN Bank, the fourth-largest retail bank in the Netherlands, marking a significant expansion in the Dutch banking sector. The global technology company has been chosen by ASN Bank under a multi-year agreement focused on digital transformation and enhancing customer experience.

Contract Details and Strategic Partnership

The newly signed contract forms part of ASN Bank's comprehensive strategy called "Simplify and Grow," designed to modernize and standardize the bank's IT architecture. Under this partnership, HCLTech will provide crucial support for ASN Bank's enterprise applications while streamlining services through a distributed delivery model.

Transformation Objectives

The partnership aims to achieve several key objectives that will reshape ASN Bank's operational framework. The contract encompasses consolidating IT services across the organization and simplifying the vendor landscape for improved efficiency. The collaboration focuses on building a future-ready organizational structure while enhancing overall customer experience through standardized and automated systems for better business operations.

Leadership Perspectives

Michel Ruijterman, Chief Information Officer at ASN Bank, emphasized the strategic importance of this partnership. He highlighted HCLTech's proven track record in delivering scalable, innovative solutions tailored specifically to the financial services sector. This expertise will enable ASN Bank to streamline its business operations by reducing existing products and aligning underlying processes and systems under the new strategy.

Sudip Lahiri, Executive Vice President and Head of Financial Services for Europe at HCLTech, expressed enthusiasm about the collaboration. He noted that by aligning HCLTech's engineering mindset and scalable, domain-led solutions with ASN Bank's strategic goals, the partnership is positioned to deliver tangible impact and long-term value, establishing the foundation for future-ready operations.

Company Profiles

ASN Bank operates as an accessible and forward-looking financial institution with particular focus on sustainability, financial wellbeing, and affordable housing solutions. The bank's services concentrate primarily on payments, savings, and mortgages, always considering both customer interests and social impact. Through its nationwide network of branches and secure mobile banking platform, ASN Bank maintains a distinctive position in the Dutch banking landscape.

HCLTech operates as a global technology company with more than 226,600 employees across 60 countries. The company delivers industry-leading capabilities centered around AI, digital, engineering, cloud, and software solutions. HCLTech serves clients across major verticals including Financial Services, Manufacturing, Life Sciences and Healthcare, High Tech, Semiconductor, Telecom and Media, Retail and CPG, Mobility, and Public Services. The company reported consolidated revenues of $14.20 billion for the 12 months ending September 2023.