Competition Commission of India has approved IT company HCL Technologies equity swap deal to buy the business of Geometric Ltd.
CCI approves acquisition by HCL of certain undertakings of Geometric and merger of remaining undertaking of Geometric with 3DPLM.
In April, HCL Technologies and Geometric Ltd signed an agreement for the deal. As part of the transaction, HCL would issue 10 shares to shareholders of Geometric for every 43 shares held by them in the company.
The deal excludes Geometrics 58% stake in 3DPLM Software Solutions Ltd, a joint venture with Dassault Systems.