HCL Infosystems acquires 40% stake

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

HCL Infosystems acquires 40% stake 
HCL Infosystems has announced the buyout of the remaining 40% stake held by the NTS Group in HCL Infosystems MEA. HCL Infosystems Ltd., through its wholly-owned subsidiary HCL Insys Pte. Ltd., Singapore, has bought the stake in HCL Infosystems MEA FZCo. Following the transfer of shares, the FZCo shall be converted into a FZE (free zone establishment) owned solely by HCL Insys Pte. Ltd., Singapore. HCL Infosystems MEA FZE now becomes a wholly- owned subsidiary of HCL Infosystems Ltd.

Shivkumar Gopal, CEO, HCL Infosystems MEA, said, "HCL Infosystems MEA becoming a wholly-owned subsidiary of our company is a significant step in our overall global emerging market strategy and also is a huge development for our operations in the Middle East. This buyout will put us in a stronger footing in the Middle East market and enable us to quickly expand our business in the region. We will now focus on enhancing our capabilities and offer more solutions, services and products to our customers here in the region. The Middle East business is very important to us and is the centre of growth that drives our overall emerging market business." 


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