HCL extends SAP agreement, buys Capital Stream

The partnership extension allows companies of all sizes to access the business benefits of enterprise service-oriented architecture (enterprise SOA).

Australia and New Zealand were two of the few countries that HCL had SAP agreements in.

Brian E. Pereira, vice president and head of A/NZ, HCL Technologies Ltd told CRN the Australia and New Zealand region will benefit even further with this agreement extension.

“[The agreement] will give us deeper access to SAP products. The A/NZ office of HCL has had a relationship with SAP going back ten years. We were one of a few regions which included Singapore/Malaysia and the USA,” he said.

The announcement of the new SAP agreement comes off the back of HCL’s acquisition of Capital Stream, a US-based software developer to commercial banks and finance companies in North America.

Capital Stream’s products include Prospecting and Sales, Credit Analysis, Due Diligence, Documentation and Portfolio Monitoring.

The acquisition is an all cash deal worth around US$40 million.

Pereira said the acquisition gives the A/NZ region access to software products only available in the US.

“We now have access to Capital Stream’s products in Australia. It will allow us to target customers in financial sector,” he said.