HCL Infosystems plans MEA expansion
Indian systems integrator plans to buy a 20% stake in Techmart Telecom.
HCL Infosystems Ltd, an ICT system integrator based in India, has signed an agreement to buy to a 20% stake in Dubai-based Techmart Telecom, a distributor of Nokia smartphones in the Middle East and Africa.
HCL Infosystems, which has annual revenues of about $ 2.6 billion, said the deal is part of its plan to expand its global distribution footprint in the Middle East and Africa.
Under the agreement, which gives HCL Infosystems the option to increase its stake in Techmart Telecom to 51%, the two companies will focus on building a distribution business to cater to the Middle East and African market.
As part of the deal, HCL Infosystems will also provide consultancy and operational services to Techmart Telecom.
Harsh Chitale, CEO, HCL Infosystems said his company had "taken another step" in its plan to expand in the Middle East and Africa.
Chris Braam, VP-Sales Nokia MEA added: "HCL Infosystems is a key partner of Nokia globally and we look forward to work with them, in association with Techmart Telecom, in expanding our smart-phone business in Middle East and Africa."