Ahmedabad: Expanding its presence in the telecom networking sector, the Gujarat-based Sintex Industries Limited has acquired Digvijay Communication and Networks Private Limited (DCNPL) through its subsidiary Zeppelin Mobile Systems India Limited in a Rs.5.4 billion deal.

Announcing the acquisition Wednesday, the company said the deal was a slump sale transaction, that is, the entity was sold for a lump sum price in which separate values are not attributed to each of the assets which are sold.

The Indore-based DCNPL is a leading provider of telecom infrastructure services in central India and its core activities comprise network infrastructure services, installation and commissioning, annual maintenance and telecom tower manufacturing. Its key clients include Nokia, Airtel, RCOM, Tata Indicom, Siemens and Idea.

Commenting on the acquisition, Sintex managing director Amit Patel said: "The acquisition offers us significant opportunity in the communication infrastructure space.

"It will enable Zeppelin to further penetrate central region of India as DCNPL enjoys a healthy market share in providing complete telecom support solutions to major telecom companies in Madhya Pradesh and Chhattisgarh. The entire management team will continue to work with DCNPL enabling Zeppelin and the acquired company to achieve scale, growth and synergies".

DCNPL has operations in Gujarat, Maharashtra, Andhra Pradesh and Uttar Pradesh.