Wednesday, February 20, 2008

CapitalStream Acquired By Indian Firm

Seattle-based CapitalStream, which provides front office automation solutions for banks and finance companies, has been acquired by HCL Technologies, a Noida, India-based IT service firm. The deal was worth approximately $40M in cash. HCL Technologies said that the acquisition will enhance its ability to serve commercial and retail financial institutions. HCL Technologies is a $4.7B IT services firm, which offers systems integration, software development, product engineering, and other services.