HCL Infosystems buys out remaining 40 per cent in HCLI MEA from NTS Holding
09 Aug 2012
Hardware, services and ICT systems integration and distribution company HCL Infosystems Ltd has bought out the remaining 40 per cent stake held by the NTS Group in HCL Infosystems MEA. HCL Infosystems Ltd, through its wholly owned subsidiary HCL Insys Pte Ltd, Singapore bought the stake in HCL Infosystems MEA FZCo, the company said in a release.
Following the transfer of shares, the FZCo shall be converted into a FZE (free zone establishment) owned solely by HCL Insys Pte Ltd, Singapore. HCL Infosystems MEA FZE now becomes a wholly owned subsidiary of HCL Infosystems Ltd.
NTS Holding BVI was a leading IT services and solutions company based in Dubai. HCL Infosystems had earlier acquired 60 per cent of NTS Group in 2010 to expand its global footprint in the Middle East and African market with direct operations to address the system integration and services need in these regions.
''HCL Infosystems MEA becoming a wholly owned subsidiary of our company is a significant step in our overall global emerging market strategy and also is a huge development for our operations in Middle East.
This buyout 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,'' Shivkumar Gopal, CEO, HCL Infosystems MEA, said.
The company is increasing its presence in global emerging markets such as the Middle East, Africa and Southeast Asia as part of the company's transformation strategy that includes the focus to accelerate growth in targeted international markets by offering a complete set of products, service and solutions.
The Middle East region specifically remains a high growth area and recently in April 2012 the company launched its operations in Qatar through a tie-up with Dyarco International WLL, a business consultancy and subsidiary of Al Faisal Holdings.
More recently HCL Infosystems MEA expanded its operations in Qatar by partnering with Consolidated Gulf Co (CGC), a leading technology and engineering solutions and service provider to make available HCL laptops, desktops and tablets in the region.