M&A Deal Summary

HCL Technologies Acquires CapitalStream

On February 20, 2008, HCL Technologies acquired information technology company CapitalStream from FTV Capital for 40M USD

Acquisition Highlights
  • This is HCL Technologies’ 2nd transaction in the Information Technology sector.
  • This is HCL Technologies’ 5th largest (disclosed) transaction.
  • This is HCL Technologies’ 3rd transaction in the United States.
  • This is HCL Technologies’ 1st transaction in Washington.
Investment Fate
  • CapitalStream was divested to a consortium of strategic buyers in 2013.

M&A Deal Summary

Date 2008-02-20
Target CapitalStream
Sector Information Technology
Buyer(s) HCL Technologies
Sellers(s) FTV Capital
Deal Type Add-on Acquisition
Deal Value 40M USD

Target

CapitalStream

Seattle, Washington, United States
CapitalStream, Inc. provides automates commercial finance processes for banks, finance companies, and manufacturers by streamlining manual processes for leases, loans, lines of credit, credit cards and other finance products.

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Buyer(S) 1

Buyer

HCL Technologies

Noida, India

Category Company
Founded 1976
Sector Information Technology
Employees222,270
Revenue 1.17T INR (2025)
DESCRIPTION

HCL Technologies is an IT services company. The Company’s services portfolio includes application development and maintenance, package implementation services, engineering and R&D services, infrastructure management services and business process outsourcing services. It has a large active client base across banking, financial services and insurance, manufacturing, telecom, retail, media and healthcare verticals. HCL Technologies was founded in 1976 and is based in Noida, Uttar Pradesh.


DEAL STATS #
Overall 3 of 23
Sector: Information Technology M&A 2 of 10
Type: Add-on Acquisition M&A Deals 3 of 18
State: Washington M&A 1 of 2
Country: United States M&A 3 of 11
Year: 2008 M&A 1 of 3
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-01 Gulf Computers

United States

Gulf Computers Inc., a US-based IT services company which provides full life cycle support for customised application development in the area of business process automation and development management.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-25 HCL Expense Management Services

Rutherford, New Jersey, United States

HCL Expense Management Services, Inc. is a provider of telecom expense management solutions that manage more than $7 billion of telecommunications expenses and offer a full suite of solutions to manage voice, data, wireless and equipment expense to both enterprises and carriers.

Buy -

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.


DEAL STATS #
Overall 12 of 62
Sector: Information Technology M&A 8 of 15
Type: Add-on Acquisition M&A Deals 7 of 38
State: Washington M&A 1 of 3
Country: United States M&A 12 of 55
Year: 2008 M&A 1 of 2
Size (of disclosed) 11 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-23 Aveksa

Waltham, Massachusetts, United States

Aveksa, Inc. is a provider of business-driven Identity and Access Management solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-01 Catalyst Repository Systems

Denver, Colorado, United States

Catalyst Repository Systems, Inc. is a developer of hosts applications to help legal, business and insurance teams manage large document populations and collaborate on complex matters securely over the Web. Catalyst Repository Systems was founded in 1998 and is based in Denver, Colorado.

Buy -