HCL Technologies Ltd., through subsidiary HCL America Inc., agreed to acquire digital consulting firm Strong-Bridge Holdings Inc. from Bow River Asset Management Corp., or Bow River Capital.
Under the terms of the agreement, HCL Technologies will pay $42 million upfront in cash and $3 million in potential earnout if targets are achieved. The acquisition is expected to be completed in April.
Strong-Bridge will operate under HCL Technologies' global digital and analytics business.
Strong-Bridge employs about 200 people and reported $45.6 million in revenues in 2018.
CG Petsky Prunier served as the financial adviser to Strong-Bridge and Bow River Capital.