<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=HCL+Technologies+Ltd" target="_blank">HCL Technologies Ltd</a>, India&#8217;s fourth largest software exporter, on Friday said it has agreed to acquire Butler America Aerospace, LLC (Butler Aerospace) for $85 million in cash.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=HCL+Technologies+Ltd" target="_blank">HCL Technologies Ltd</a>, India&#8217;s fourth largest software exporter, on Friday said it has agreed to acquire Butler America Aerospace, LLC (Butler Aerospace) for $85 million in cash.
The deal which is subject to regulatory approvals including CFIUS approvals in the US, alongwith other customary closing conditions, expected to close by Dec 31, 2016.
The acquisition will bolster HCL’s capabilities in this space and access to clients with large R&amp;D spends, it said in a stock market disclosure. The deal does not include the staffing business of Butler America.
Butler Aerospace is a wholly-owned subsidiary of Butler America LLC and provides engineering, design services and aftermarket engineering services to US aerospace and defense customers.
For the year ended Dec 31, 2015, the company had revenues of $85.4 million at EBIT of 12.2 per cent and in January-June 2016, it posted $46.3 million revenues.
Butler Aerospace employs over 900 engineers and has seven design centers.
The Noida-headquartered company HCL had acquired the external IT (information technology) business of Sweden’s Volvo Group in February this year. In April, it announced to buy the IT business of Geometric for Rs 1,300 crore.
HCL&#8217;s fresh acquisition comes on the back of IT major <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=wipro" target="_blank">Wipro Ltd</a>&#8216;s announcement yesterday to acquire Appirio Inc, a US-based cloud services firm.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-hcl-technologies-acquires-volvo-groups-external-it-business-30961/" target="_blank">India: HCL Technologies acquires Volvo Group’s external IT business</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/56023-56023/" target="_blank">Indian IT major Wipro to buy US cloud services company Appirio for $500m</a>

HCL Technologies Ltd, India's fourth largest software exporter, on Friday said it has agreed to acquire Butler America Aerospace for $85 million in cash.

HCL Technologies to acquire Butler America Aerospace for $85m

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HCL Technologies to acquire Butler America Aerospace for $85m

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