HCL Info buys 20% in Dubai’s Techmart

HCL Info buys 20% in Dubai’s Techmart

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.