Kavveri Telecom completes Rs134-cr acquisition of Spain’s Rymsa Telecom
02 Nov 2011
Bangalore-based wireless subsystem manufacturer Kavveri Telecom Products Ltd today said that it has completed its $27.3 million (Rs134 crore) acquisition of Spanish Rymsa Telecom from its owner Radiacion y Microondas, S.A.
With this acquisition, Kavveri, which had March ended 2011 revenue of Rs301 crore, expects its topline revenue to increase by €15 million (Rs101 crore).
Rymsa Telecom designs, manufactures and distributes a wide range of base station antenna systems through its manufacturing sites located in Madrid, Spain and Mexico City, for the European and Latin American markets.
Its customers include major carriers like Telefonica, Orange, Claro, Movistar, Telcel, Americamovil and major telecom equipment manufacturers including Nokia Siemens Networks and Ericsson among others.
Rymsa Telecom has a dominant market share in Europe and Latin America and is growing its market share in the Middle East, CIS and Africa.
The acquisition of Rymsa Telecom enhances Kavveri's antenna product portfolio and also expands its existing sales channels in Europe and Latin America through its earlier acquisitions.
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