What do investors think of the deal?
The nearly $2 billion acquisition was announced Thursday night. On Friday morning, shares of HCL Technologies, which trades on the National Stock Exchange of India, were down 5 percent. IBM stock was also down, charting 2.92 percent lower, off $3.62 to $120.25 a share.
"It is important to note that most of these products have been sold on the back of the stable relationship with IBM, existing Strategic Outsourcing or a Managed Services contracts and the ability to convert capex (capital expenditure) to opex (operational expenditure) thanks to IBM's financing arm," Sanchit Vir Gogia, CEO at research firm Greyhound Research told the website moneycontrol.com.