IT hardware manufacturer and systems integrator HCL Infosystems Ltd has acquired the remaining 40 per cent stake in HCL Infosystems MEA FZCo for an undisclosed amount. HCL Infosystems already held majority stake in the venture and the latest deal makes the company a wholly owned arm.
“This buy out 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,” said Shivkumar Gopal, CEO, HCL Infosystems MEA.
Earlier in 2010, HCL Infosystems acquired 60 per cent of NTS Group (owned by four Dubai-based businessmen) for $6.5 million to expand its footprint in the Middle East and African market. The firm was renamed as HCL Infosystems MEA FZCo.
In the same year, the company acquired 20 per cent equity stake in another Dubai-based firm Techmart Telecom Distribution FZCO through its Singapore-based subsidiary HCL Investments Pte Ltd.
Part of HCL Group which includes IT services firm HCL Technologies, HCL Infosystems Ltd offers a wide spectrum of ICT products that includes computing, storage, networking, security, telecom, imaging and retail.
Last month, the firm had acquired education content provider Edurix, a part of Attano Media and Education and designs content for the K-12 education segment for an undisclosed amount. In 2008, HCL Info acquired stake in Natural Technologies Pvt Ltd for $2.1 million.
(Edited by Prem Udayabhanu)