Bangalore: The Bangalore based Telecom Company; Kavveri Telecom is to pump up about $20 Million in a private equity deal. The company mainly focuses on manufacturing radio frequency product and antennas which are widely used in Radios and TVs, air traffic control and specific supplies for military applications.  

“We are in negotiations with private equity funds to finalize the deal to raise $20 million shortly. This will be used to ramp up capabilities and would also fund acquisitions. The private equity funding will be through a fresh issue of equity,” said Shivakumar Reddy, MD of Kavveri Telecom.

The company is eyeing on another acquisition from either Europe or the middle-eastern region as reported by Business Standard. If the objectives of the company are successfully attained, it would the sixth acquisition by Kavveri , which has already acquired Til-Tek Antennae Inc, Digital Communications, Spotwave Wireless Trackcom Systems International and the telecom division of Radiacion Y Microondas.

“The defense sector at present accounts for five per cent of the revenues and we are working towards having fifteen per cent from this sector,” said officials of the company which focuses a lot in defense communication.

Ninety five percent of the company’s revenue comes from the telecom sector. Under such conditions the Kavveri would like to establish similar hold over the US and European Market.