ICON advises data governance provider Zeenea on its acquisition by HCLSoftware
17.09.2024
ICON has advised data governance and metadata management software provider Zeenea on its acquisition by HCLSoftware, the software business division of HCLTech.
Paris-based Zeenea provides an intelligent data discovery, data governance and enterprise data marketplace platform that supports metadata management applications from search and exploration to data catalogue, lineage, governance and compliance.
Its platform is powered by an adaptive knowledge graph that enables organisations to democratise data access and generate a 360-degree view of their assets and the relationships between them.
The acquisition will enable HCLSoftware to enhance its Data & Analytics business – Actian – accelerating the GenAI and Data Engineering roadmap of its customers by adding powerful data catalogue, lineage and governance solutions.
Luc Legardeur
CEO and Co-founder
“ICON team, you rock. You have guided me from considering an exit to actually closing. You all at ICON have been very sharp, process driven, precise, and your advice was consistently and absolutely accurate.”
“Metadata management is becoming critical for our customers to accelerate their GenAI initiatives across business functions.
Zeenea will further accelerate the growth in the data and analytics space for HCLSoftware. It will enable HCLSoftware to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage and better leverage data in their data engineering and GenAI journeys.”
Kalyan Kumar
Chief Product Officer, HCLSoftware
“To become data-driven, organizations of all sizes need data governance to ensure the most effective and efficient use of quality data throughout its life cycle.
With Zeenea as part of our portfolio, Actian offers customers a complete data ecosystem – making Actian a one-stop shop for all things data. Together, we will help our customers propel their GenAI and analytics initiatives forward by boosting confidence in data preparation and enhancing data readiness.”
Marc Potter
CEO of Actian
“At ICON, we are proud to have advised such a disruptor in the data governance, data catalogue, and data lineage space on this strategic acquisition by HCLSoftware.
Backed by a team of hardworking innovators and proven at demanding enterprise customer accounts including Merck, Groupe BPCE, Stellantis, and Renault, we expect Zeenea will be hugely successful with the larger resources and expertise HCL provides.”
The transaction bolsters ICON’s extensive track record across transaction types in AI & DataTech. ICON’s deal experience in this sector alone includes advising:
- data transformation scaleup VaultSpeed on their fundraise from Octopus Ventures;
- AI automation provider ForePaaS on their strategic acquisition by OVHcloud;
- data management automation pioneer TimeXtender leading up to their funding from Monterro;
- and, weather analytics startup Fathom Global on their strategic investment from US credit ratings giant Moody’s.
The disclosed revenue multiple valuation of 9.2x proves ICON’s ability to close deals at above-market valuations even in challenging market cycles.
