Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Bharti acquires Max group business
Tuesday, 01 February 2005, 20:30 IST
NEW DELHI: India's telecom giant Bharti Tele-ventures Ltd. announced Monday it had agreed to acquire the assets of leading VSAT and broadband services provider C Max Infocom and its affiliate.
The all-cash transaction, valued at 
330 million ($7 million), is expected to provide a strategic fillip to Bharti's already existing VSAT infrastructure and augment its telecom and broadband solutions services.
Under the agreement reached with Max Group, Bharti will purchase Comsat Max, a fully owned subsidiary of C Max Infocom.
Comsat Max has a strong presence in the financial and banking sector, which would add to Bharti's list of corporate customers.
"The acquisition will make Bharti amongst the largest players in the VSAT service industry and result in huge synergistic benefits arising due to integration of the two organisations," Bhrati Infotel Ltd. president Badri Agarwal said in a statement.
The acquisition involves Bharti Tele-Ventures taking over all assets and liabilities of the acquired companies, including VSAT hubs in Mumbai and Delhi along with a data centre and 4,300 installations across the country.
Bharti provides end-to-end data and enterprises service to corporate customers and its mobile base had over 10 million customers as of Jan 17. The company had over 800,000 fixed line phone customers as of December.
Source: IANS
330 million ($7 million), is expected to provide a strategic fillip to Bharti's already existing VSAT infrastructure and augment its telecom and broadband solutions services.
Under the agreement reached with Max Group, Bharti will purchase Comsat Max, a fully owned subsidiary of C Max Infocom.
Comsat Max has a strong presence in the financial and banking sector, which would add to Bharti's list of corporate customers.
"The acquisition will make Bharti amongst the largest players in the VSAT service industry and result in huge synergistic benefits arising due to integration of the two organisations," Bhrati Infotel Ltd. president Badri Agarwal said in a statement.
The acquisition involves Bharti Tele-Ventures taking over all assets and liabilities of the acquired companies, including VSAT hubs in Mumbai and Delhi along with a data centre and 4,300 installations across the country.
Bharti provides end-to-end data and enterprises service to corporate customers and its mobile base had over 10 million customers as of Jan 17. The company had over 800,000 fixed line phone customers as of December.
Source: IANS