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Infosystems has announced that it
will sell the entire stake of its subsidiary HCL Infinet to Tikona
Digital Networks. "The move comes as part of the HCL Infosystems
transformation strategy under which the company will be further
strengthening its core business and expanding into identified growth
areas," according to company's sources. The sale of shares is
subject to and shall be given effect after necessary regulatory
approvals.
"HCL Infinet is poised to take on
a different growth trajectory and is best suited to further
strengthening an enterprise like Tikona focused on delivering ISP and
NLD (Internet service provider and national long distance) services
in the fast emerging telecom industry," said Harsh Chitale, CEO,
HCL Infosystems. “The company, 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
eGovernance, power, telecom, education and learning to security,”
he said.
In the past few months, HCL Infosystems
has also made two acquisitions to expand its geographical presence.
At the Bombay Stock Exchange, the shares of the company were 0.18 per
cent low to trade at Rs 108.75.