bangalore billionaire shiv nadarcontrolled hcl technologies will acquire mumbaibased engineering services company geometric for rs 1283 crore 188 million in a shareswap dealgeometrics principal shareholder the godrej family and ceo manu parpia together own about 38 stake the deal was first reported by toi on march 2 this is one of the few domestic consolidation deals in indian it most mas have been triggered by private equity buyouts or inbound acquisitions by mncsgodrej holds little over 31 stake through godrej boyce manufacturing company and godrej investments while manu parpia and his family own just under 7 ace investor rakesh jhunjhunwala and his wife together own 19hcl tech indias fourthlargest it services company will issue 10 equity shares of rs 2 each to geometric shareholders for every 43 equity shares of geometric of rs 2 each held by them in all it will issue 1564 million equity shares geometrics current market value stands at rs 1274 crore which means the hcl deal came at a slight premiumhcl will acquire geometrics businessdemerged from the parent entityand merge it with itself to drive greater synergies the acquisition excludes the 58 stake that geometric owns in the joint venture 3dplm software solutions with dassault systmes with this buyout hcl technologies will be the thirdlargest engineering services player globally with 135 billion in revenue januarydec 2015 after french engineering services majors altran and alten with revenues of 216 billion and 17 billion respectivelythe business that hcl is acquiring has more than 60 global clients in the us and europe with many of them in the automotive and industrial engineering segments the entity posted 140 million in revenue for the 201415 financial year as of december last year it employed 2606 people across 13 global delivery locations in the us france germany romania india and china