HCL Tech to invest $1.25 mln in Delaware-based Austin GIS

BY A STAFF REPORTER:- 

HCL Technologies Ltd will invest $1.25 mln in series A preferred shares of Delaware-based Austin GIS Inc for 13.9% stake, the company said in a regulatory filing.

The cash investment is being made through the company's wholly-owned subsidiary HCL Bermuda Ltd.

HCL Technologies has invested in Austin GIS for a growth opportunity in Internet of Things and 5G networks industries, which complement its IT services offerings.

Austin GIS Inc is a newly-formed entity.

Source : Eureka

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