Today, in the wee hours of the morning, HCL Tech announced its intent to acquire DWS Limited, a leading Australian IT, business and management consulting group.

The acquisition of DWS will improve HCL’s contribution to digital initiatives in Australia and New Zealand while strengthening HCL’s client portfolio across key industries.

The transaction is expected to close in December 2020 though no financial details have been divulged.

The market is super thrilled with this development and it believes that HCL Tech is poised best for migration from public cloud to hybrid cloud. The stock hit a new high today on the BSE at Rs.849.70 and continues to trade at Rs.841 levels. Market cap stands at Rs.2,28,246 crore.