HCL Technologies, an IT services provider, has acquired Minneapolis-based PowerObjects, a provider of Microsoft Dynamics CRM, for $46 million.
PowerObjects is a professional services firm completely focused on providing service, support, education, and add-ons for Microsoft Dynamics CRM. The company has won Microsoft's Partner of the Year award three of the last four years, and is one of Microsoft's leading partners for Dynamics CRM.
"Together, HCL and PowerObjects will now offer one of the largest Microsoft Dynamics practices in North America," said Greg Palesano, executive vice president and global head of application services at HCL, in a statement. "The acquisition reinforces our commitment to helping clients who rely on Microsoft as a strategic platform. We look forward to combining our global scale with PowerObjects' capability and expertise to build a world-class Microsoft Dynamics CRM business positioned to capture the growing opportunities in the CRM services market."
"We are excited that HCL will carry on the PowerObjects heritage of innovation," said Dean Jones, CEO of PowerObjects, in a statement. "As clients attempt to grow their revenues by improving their CRM processes and technologies, we believe that blending our teams and areas of expertise will result in increasingly transformational products and services."
"As companies look for new and more effective ways to engage their customers, technology plays an important role in enabling them to gain greater insights, become more responsive, and create business value," said Susan Hauser, corporate vice president of the Enterprise and Partner Group at Microsoft, in a statement. "HCL and PowerObjects are well positioned to help drive business transformation by helping companies intelligently engage with their customers."
As part of the acquisition, the existing leadership team of PowerObjects will remain in place, and no workforce changes are planned.