HCL Infosystems sells entire Equity Share in HCL Infinet to Tikona

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

HCL Infosystems sells entire Equity Share in HCL Infinet to Tikona

HCL Infosystems and Tikona Digital Networks Limited (Tikona) have signed an agreement on the latter taking up the entire equity stake of HCL Infinet Limited, a wholly- owned subsidiary of HCL Infosystems. The sale of shares is subject to and shall be given effect post necessary regulatory approvals. The move comes as a part of HCL Infosystems' transformation strategy under which the company will be further strengthening its core business and expanding into identified growth areas.

"HCL Infinet is today poised to take on a different growth trajectory and is best suited to further strengthen an enterprise like Tikona focussed on delivering ISP and NLD services in the fast-emerging telecom industry. HCL Infosystems, on the other hand, has been rapidly emerging as a leading systems integration and product engineering company, enabling projects across the country in the areas from e-governance, power, telecom, education and learning to security, etc. The company has also completed two acquisitions in the past few months to expand its geographical presence. This step can be viewed as the company further consolidating and strengthening its IT service offerings," said Harsh Chitale, Chief Executive Officer, HCL Infosystems Ltd.

HCL Infinet started its ISP/NLD operations in the year 2000 and holds an all licence to operate as a Class "A" ISP, ITSP and NLD service provider. This alliance of HCL Infinet's experience and Tikona's commitment in the marketplace should be a great team to offer its valued customers a host of additional solutions driving greater value and quality service.

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