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IBM acquires NetSol for $100 M
By siliconindia staff writer
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Wednesday, 09 November 2005, 20:30 IST
BANGALORE: Betting strongly on the domestic systems integration business, global IT major IBM said it will acquire Network Solutions Pvt. Ltd. A Bangalore-based infrastructure services company.
This acquisition comes barely a week after the IBM Chief Sam Palmisanos four-day visit to India. This acquisition will allow IBM to augment its networking and managed services portfolio of offerings in India and broaden its reach in the country. This transaction is expected to close within a month.
Market sources have pegged the deal size at $75-100 million, though both the companies declined to comment on the deal size.
This investment will also enable IBM to consolidate its leadership in the Indian domestic services market by strengthening its services capabilities in the area of infrastructure services solutions for the enterprise & mid market business segment, IBM said.
Established in 1993, Network Solutions specializes in implementation of convergence solutions for data, voice and video, security, wireless technology solutions, WAN & LAN implementations, infrastructure management, network design and implementation, structured cabling solutions, network management including remote management services and IP telephony services.