IBM Corp. is offloading some of the most time-tested components of its enterprise software portfolio to partner HCL Technologies Ltd. in a deal worth $1.8 billion.

The transaction, which the companies announced Thursday night, encompasses a total of seven applications. The standout products are Notes and Domino. They form the two halves of the enterprise collaboration platform formerly known as Lotus Notes, which IBM acquired for $3.5 billion back in 1995.

HCL already handles development work on Notes and Domino as a part of a partnership it struck with IBM last year. Today’s deal will also see the India-based professional services giant acquire Connections, a third collaboration solution that debuted in 2007.

The other applications span several different categories. The roster includes the BigFix device management platform, the aptly named Portal tool for creating web portals and Appscan, which can help companies find potential security flaws in their web applications. Capping off the bundle is a pair of e-commerce and marketing solutions.

Most of these applications are at least a decade old and have limited potential for revenue growth, especially amid the rapid expansion of modern alternatives such as Slack. The deal with HCL will free up more resources for IBM’s efforts to refocus on high-growth areas such as cloud computing.

To boost that shift, the company in October entered an agreement to acquire Red Hat Inc. for $34 billion. IBM is also investing in artificial intelligence, connected devices and cybersecurity along with a number of more nascent segments. The company is trying to offset the steady declines in its legacy business lines, which pulled total revenues down by 2 percent last quarter. 

“We believe the time is right to divest these select collaboration, marketing and commerce software assets, which are increasingly delivered as stand-alone products,” John Kelly, IBM’s senior vice president of cognitive solutions and research, said in a statement. “At the same time, we believe these products are a strong strategic fit for HCL, and that HCL is well positioned to drive innovation and growth for their customers.

HCL is gaining a collection of applications that may not exactly qualify as high-growth products, but they do boast a significant number of existing enterprise users. This installed base holds new opportunities for the company’s professional services business. According to Reuters, HCL expects to add $650 million in annual revenue within two years of the deal’s completion, which is expected by mid-2019.

Photo: IBM