Indian IT services major HCL Technologies on Thursday said its UK susidiary has picked up minority stake in London-based Kalido.

Operated by London-based Om Mobile Ventures, Kalido empowers its users to provide skills and meet skilled people, with trust at the core of every interaction. Kalido can be used for enterprises, schools, conference organisers and attendees, for setting up a private network.

HCL Technologies UK Ltd will acquire 2.8 million shares of Kalido’s parent, Om Mobile Ventures, which would be about 6.64% stake on a fully diluted basis, a regulatory filing said.

The cost of acquisition was USD 0.71 a share, aggregating to about USD 2 million (over Rs 14 crore), it added.

For enterprises, Kalido enables better onboarding for new joiners, greater information sharing and connectivity between existing employees; faster team formation based on people who have specific skills in specific locations; and faster hiring through social connections that already exist between employees and future candidates.

“This investment could provide HCL with an opportunity to expand network building capabilities and features to customers for the newly acquired IBM Connections as well as HCL’s Digital Workplace solutions,” it said.

Om Mobile Ventures was founded in 2014 and offers a real-time opportunity engine that uses artificial intelligence software to make meaningful connections.

Kalido is currently in pre-revenue product development stage, the filing said.

To recall, in last month HCL confirmed the official close at the end of June 2019 the previously announced acquisition of select IBM products for security, marketing, commerce, and digital solutions.

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