HCL to buy majority stake in Dubai's IT firm NTS Group
09 July 2010
The $2.5-billion HCL Infosystems yesterday enterd into a deal to acquire a 60-per cent stake in Dubai-based NTS Group, a provider of IT services for about $6.5 million.
NTS is an IT services firm that offers IT solutions ranging from IT hardware to software services, consulting, networking, e-security and web development.
NTS represents leading hardware and IT infrastructure brands that include, Acer, Philips, Fujitsu Siemens, HP, EPSON, 3COM, CISCO and Microsoft Certified Partners.
Its clients include Etisalat, Emirates Airlines, Dubai Police, Mashreq Bank and Commercial Bank among others.
It operates in the United Arab Emirates as well as in most parts of the Middle East. It also has development and design centres in India and offices in the UAE, Qatar and Europe.
Acquiring a majority stake in NTS, will enable HCL to expand its presence into thwe high-end IT markets in the Middle East and Africa, as the NTS Group offers solutions in hardware, enterprise software, infrastructure and networking, e-security and web development.
''This acquisition will see NTS's customers across West Asia get access to HCL Infosystems' three decades of expertise in the space. It will help us to accelerate growth in our targeted international markets, offering a complete set of products, services and solutions,'' said Ajai Chowdhry, chairman and CEO of HCL Infosystems.