Hughes Software acquires Tenet Technologies

By siliconindia   |   Tuesday, 08 July 2003, 19:30 IST
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Hughes Software Systems Limited (HSS), the Indian subsidiary of US-based Hughes Electronics Corp, today announced that it has acquired Bangalore-based Tenet Technologies Private Limited (Tenet) for $3.8 million.

BANGALORE: HSS will acquire 100% stake in Tenet in an all cash deal subject to the approval of regulatory authorities. Post regulatory approval, Tenet will become a 100% subsidiary of HSS. Set up in 1996, Tenet, a Bangalore based software services company, is focused on providing solutions in the areas of IP, Broadband (ATM and SONET), telecom (wireline & wireless) and emerging areas such as mobile applications. The company has 95 employees, a development center in Bangalore, India and a significant sales and support presence in Japan through a wholly owned subsidiary. Tenet's core services include product design, development, verification, sustenance and technology consultancy in the areas of Datacom and Telecom. Rajendra K Misra, CEO and Managing Director, Tenet Technologies said, "Tenet's strong Japan presence and customer relationship will help the combined entity to leap frog vis-à-vis our competition." Arun Kumar, President and Managing Director, Hughes Software Systems, said, "This deal will extend our reach and understanding of the Japanese market, which will help us significantly enhance our market share in that region."