HCL Technologies, a U.S. startup that makes the Hcl technology used in medical devices, has been acquired by an international company, Capital Technologies University, the technology firm that was founded by former Google executives and is best known for its Google Glass headset.
The company was founded in 1999 and has grown to include several large companies, including HCL Robotics, a company that makes medical equipment and devices.
The deal was announced Thursday by the two companies, with HCL CEO Michael Lee announcing the deal via Twitter.
Capital Technologies will continue to operate the HCl Technology Stock Exchange.
Lee said the move was made because Capital Technologies “is a company focused on research and innovation in the medical device space, and our acquisition of HCL will allow us to better focus on delivering the HLC technologies that are needed in the future.”
Capital Technologies, founded in 2012, is a startup founded by the former Google founders and now focuses on the development of medical devices and applications.
Lee has said the company plans to continue to develop and support medical device technologies and that it will continue its focus on “creating a global platform for medical innovation.”
The deal is expected to close by the end of 2018.
Capital Technology University is one of the largest research universities in the world.
Capital’s research is focused on the medical devices industry.
Its research and development arm, the HBL Ventures Fund, is one the largest investments in medical device companies, according to the company.
The investment in Capital Technologies comes at a time when companies are ramping up their efforts to make medical devices more affordable and accessible.
For example, the U.K.-based medical device startup Cimbi raised $20 million last month to build a new manufacturing facility in the U., a move that will eventually allow its technology to be used in the developing world.
The same week the HCTE was announced, a major global tech company announced it was acquiring $200 million in medical technology startup Batteries Unlimited for an undisclosed amount.
Batterys Unlimited, based in Sunnyvale, California, is developing battery technologies for devices that are designed to last longer.
The acquisition is the latest sign of the changing medical device market, as companies such as Medtronic, Sanofi, Novartis, and Regeneron have all been looking to make their products more affordable.
In an interview with CNBC earlier this month, Lee said he is not optimistic that the medical technology market will be as lucrative as it was before, but said he believes the technology companies are on the right path.