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MBT acquires Axes Technologies for $54 M
By agencies
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Wednesday, 16 November 2005, 20:30 IST
BANGALORE: Mahindra British Telecom (MBT), the joint venture between Mahindra and Mahindra (M&M) and British Telecom, has acquired Axes Technologies, the Texas-based telecom solutions provider for $54 million.
Axes Technologies offers services such as embedded and application software development, testing, hardware system design, product support, maintenance, network integration and traffic engineering of next-generation network among others.
The source from MBT said this acquisition is expected to enhance the scale of operations for MBT in Bangalore and also open up their entry gates in Chennai.
For the first half of the current financial year the MBT, reported 36 percent increase in net profit to $16.18 million, while revenues grew about 4 percent to $114.36 million for the same period over corresponding previous year.
With over 7,000 people, MBT serves telecom equipment manufacturers, service providers, software vendors and systems integrators. Its global customers include Alcatel, Alltel, BT, Convergys, Ericsson, Marconi, O2 and Vodafone among others.