HCL likely to acquire US-based UFS for $30 million

Noida-based, HCL Technologies plans to acquire US-based mortgage business service provider, Urban Fulfillment Services, LLC for more than Rs 199 crore.

With this deal, likely to be completed by June,  the company expects to expand its local workforce in the US.

Through the acquisition of UFS, HCL aims to scale up its digital technology based services to clients.

Anoop Tiwari, Global Head, Business Services, HCL, said, "Combining UFS's talent and client portfolio with HCL's deep industry expertise and business acumen, offers us the unique opportunity to provide platform-based services on our own platform, driving transformation through robotics process automation."

HCL has been acquiring small firms to drive growth in newer areas such as cloud-based services, engineering design.