BWI: HCL Infosystems to Acquire 20% Equity Stake in Dubai-Based Techmart Telecom

Press release from Business Wire India
Source: HCL Infosystems Ltd
Thursday, December 30, 2010 04:22 PM IST (10:52 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Business services, Information technology, Retailers, Telecommunications; Technology
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HCL Infosystems to Acquire 20% Equity Stake in Dubai-Based Techmart Telecom
. HCL Infosystems' distribution business forays into Middle East and Africa . Expands distribution tie-up with Nokia

New Delhi, Delhi, India, Thursday, December 30, 2010 -- (Business Wire India) -- HCL Infosystems Limited, India's premier hardware, services and ICT system Integration Company, today announced the signing of the Share Purchase Agreement (SPA) to acquire 20% equity stake in Techmart Telecom Distribution FZCO, a Dubai-based partner of Nokia Corporation through its Singapore-based SPV. In addition to the 20% equity stake, HCL Infosystems will be providing consultancy and operational services to Techmart Telecom, leveraging company's expertise in the telecom distribution space. Techmart Telecom is the distributor for Nokia's smartphones in the Middle East and Africa. With this strategic development, HCL Infosystems will now expand its global distribution footprint in the emerging markets of Middle-East and Africa.

Mr. Harsh Chitale, CEO, HCL Infosystems said, "We have taken another step in further expanding into emerging markets of Middle East and Africa. This move would strengthen our footprint in the Middle-East and African countries."

Mr. M P Sharma, President, Techmart Telecom said, "We are excited about our strategic association with HCL Infosystems who brings over a decade of expertise in the field of distribution. We look forward to work closely with HCL Infosystems in growing the Nokia smartphones business in the region.

Mr. Chris Braam, VP-Sales Nokia MEA said, " 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 smartphone business in Middle East and Africa"

Together, HCL Infosystems and Techmart will now further focus on building distribution business to cater to the Middle East and African Market. The agreement also provides an option to HCL to acquire upto 51% of equity stake in Techmart Telecom Distribution FZCO.

About HCL Infosystems
HCL Infosystems Ltd, with revenue (LTM) of US $ 2.6 billion (Rs. 12,159 crores) is India's premier hardware, services and ICT systems integration company offering a wide spectrum of ICT products that includes Computing, Storage, Networking, Security, Telecom, Imaging and Retail. HCL is a one-stop-shop for all the ICT requirements of an organization. India's leading System Integration and Infrastructure Management Services Organization, HCL has specialized expertise across verticals including Telecom, BFSI, eGovernance & Power. HCL has India's largest distribution and retail network, taking to market a range of Digital Lifestyle products in partnership with leading global ICT brands, including Apple, Cisco, Ericsson, Kingston, Kodak, Konica Minolta, Microsoft, Nokia, Toshiba, and many more.

HCL today has India's largest vertically integrated computer manufacturing facility with over three decades of electronic manufacturing experience & HCL desktops is the largest selling brand into the enterprise space. With India's largest ICT services network that reaches to every corner of India, HCL's award winning Support Services makes it the preferred choice of enterprise and consumers alike. HCL Infosystems has a 100% subsidiary that addresses the physical security technology system integration market. The subsidiary leverages technology to build a security framework called 'Safe State' that safe guard's life, infrastructure & society. For more information please visit us at www.hclinfosystems.in

About Techmart Telecom Distribution FZCO

Techmart is Nokia's Original Mobile Enhancement Partner for Middle East countries since 2002. During the last eight years, it has created an enviable distribution structure in the Middle East covering 14 countries. It has a unique Direct Distribution Model in the region providing services to over 7,000 retail stores, through its own dedicated sales force. Today Nokia enjoys an over 80 % market share for Gears in an extremely competitive environment in the region. Techmart was awarded the "World's Best Distributor" by Nokia for its achievements in 2006.

Techmart Telecom Distribution FZCO is a "Value Replenishment Partner" set up in the Jebel Ali Free Trade Zone in July, 2010, by Techmart to develop the Smartphone range of Nokia by providing logistics and distribution capability in the MEA region.



CONTACT DETAILS
Ashutosh Bhattacharya, Head - Corporate Communications, HCL Infosystems Ltd, + 91 9811920415, ashutosh.bhattacharya@hcl.in
Gurkirat Sandhu, Hanmer, +91 9810085526, gurkirat.sandhu@hanmermsl.com
Swati Jain, Hanmer, +91 9873243983, swati.jain@hanmermsl.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BUSINESS SERVICES, IT, RETAIL, TELECOMMUNICATIONS, TECHNOLOGY

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