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HCL Info buys 20% in Dubai’s Techmart

HCL Info buys 20% in Dubai’s Techmart
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First Published: Thu, Dec 30 2010. 06 16 PM IST
Updated: Thu, Dec 30 2010. 06 16 PM IST
New Delhi: IT hardware provider HCL Infosystems Ltd said on Thursday it will buy a 20% stake in Dubai’s Techmart Telecom Distribution FZCO in a bid to expand in the west Asia.
HCL Infosystems will have the option of buying up to 51% equity stake in Techmart Telecom, the company said in a statement.
Techmart is a partner of Nokia Corp and the latest deal will help HCL Infosystems to expand its distribution tie-up with Nokia.
The acquisition has been done through HCL Infosystems’ Singapore-based special pupose vehicle.
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First Published: Thu, Dec 30 2010. 06 16 PM IST