Dhanus Technologies buys Turkish telecom firm

Saturday, 19 January 2008, 02:19 IST
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Chennai: In a mega acquisition by a domestic telecom giant, Chennai based Dhanus Technologies has acquired Borusan Telekom, Turkey's first alternative telecom operator with A type (broad) licence. Dhanus Technologies provides global call cards and GPS tracking devices. The Indian firm has reached an understanding with Borusan Holding for 100 percent acquisition of Borusan Telekom, supporting its growth strategy for Europe, a company release here said. Underlining the aggressive growth process of Dhanus Technologies in global markets, vice chairman S. Muthukrishan said: "Turkey has a strategic position for us between Asia, Europe and Africa". "As we step into European markets, we have decided to start with Turkey. With a total of 34 point of presence (POP) stations, 32 within Turkey and two abroad, Borusan Telekom has one of the strongest alternative networks in Turkey." After this acquisition, Borusan Telekom will contribute to the consolidation of the market and it will bring a bigger scale to operations necessary for growth, he said, adding: "We will take innovative and dynamic steps in the retail market. Within this context, one of our first applications will be the products to provide solutions to Turks living in Germany." Muthukrishan emphasised that the management of Borusan Telekom will continue without any changes and employees will undertake an important role in achieving the company's global targets. "We are going to focus on customer expectations and service quality. In retail, we will have aggressive marketing strategies for products like LLU and MAN." Chief executive officer of Borusan Holding, Agah Uayur stressed their continuing focussed growth in the sectors and predicted: "In the coming period, opportunities will increase with the acceleration of the liberalisation process. I believe Dhanus will be able to make a better use of these opportunities with its global network." "Under our management, Borusan Telekom developed a strong infrastructure and a wide portfolio of products and services meeting Turkey's needs very well. It is time for Borusan Telekom to make a leap at global level. During negotiations we saw that Dhanus Technologies was the best candidate to make this move for Borusan Telekom. "We hope that Borusan Telekom will bring its leadership performance in Turkey to a global level under the leadership of Dhanus Technologies." Established in 1993, Dhanus Technologies, with a market value of $150 million, provides solutions to CRM and logistics by combining IT and telecommunications technologies. The company also has operations in California. It plans to invest $200 million in Europe, Middle East and Canada. An industrial and service conglomerate in Turkey, Borusan operates in four major business areas including steel, distributorship, logistics, and telecommunication. Borusan Telekom, which increased its revenues 1,600 percent in the last five years, has been operating in the sector since 1996 and occupies the first place among the alternative operators in fixed telephone services on the list of BT 500 (list of the best firms). Borusan is a partner of world steel giant Arcelor Mittal and has a $500 million investment in it. The Borusan Group aims to reach $5 billion revenue by 2010.
Source: IANS
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