HCL Technologies has acquired US-based PowerObjects, a top provider of Microsoft Dynamics CRM (customer-relationship management), for $46 million. The merger has resulted in the creation of one of the largest CRM practices in the world.
PowerObjects has been awarded the title of Microsoft Partner of the Year in 3 of the past 4 years. The firm offers support, education and various add-ons for the tech giant’s Dynamics CRM business. HCL hopes the acquirement will deepen its relationship with Microsoft, as the move results in a closer alignment with the brand’s mobile and cloud-first vision.
The union will benefit both companies. PowerObjects can take advantage of HCL’s worldwide presence to expand its business in the US and other markets, while HCL will be able to accelerate its growth in Dynamics CRM by leveraging the smaller brand’s expertise and commitment in the industry.
According to market research firm Gartner, the CRM market had a growth rate of 13.3% in 2014 and is set to develop faster than any other enterprise software category. Based on this, it predicts the service will become a global business worth $36 billion by 2017 as an increasing number of companies are looking to build long-term customer relationships.
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Microsoft corporate vice president, Enterprise and Partner Group, Susan Hauser believes technology plays an important part in interacting with customers. Digital tools help brands become more responsive and gain greater insights. She thinks the partnership between HCL and PowerObjects will accelerate business transformation by creating new ways to engage with consumers.
In a statement, HCL said the acquisition will not result in a major shakeup at PowerObjects. The present leadership team will stay in place and no changes to the 250-strong workforce are currently being planned.