Wednesday, October 13, 2004

SHIPARA becomes HCL Tech's fully owned

HCL Technologies has announced the acquisition of the minority shareholder's stake of 23 percent in Shipara Technologies, held by Rao Insulating Company Limited. Shipara Technologies thus becomes a fully owned subsidiary of HCL Technologies henceforth.

Till recently, HCL Technologies held 77 percent equity interest in Shipara Technologies, which primarily focuses on high-end engineering and technology areas such as aerospace, embedded systems, engineering services and communication technologies.


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