DWS chief executive officer and managing director Danny Wallis said the deal was an “outstanding outcome” for all DWS stakeholders.

“We are delighted the DWS team is joining HCL. As a leading name in the global technology industry and with over 150,000 employees across 49 countries, they bring best in class technology capabilities, global scale and a wide network of clients and partners across industries,” Mr Wallis said.

HCL employs 1600 people in major Australian cities, including Canberra, Sydney, Melbourne, Brisbane, and Perth. HCL’s broad array of services run across three sections of the business, IT and business services, engineering and R&D Services, and products & platforms.

The DWS Group, which posted revenue for the financial year ending in 2020 of $167.9 million, provides a range of IT services including digital transformation, application development & support, program & project management and consulting.

The transaction is expected to close in December 2020, subject to closing conditions, including regulatory approvals.