HCL Infosystems Ltd., India’s premier hardware, services and ICT Systems Integration and Distribution Company, has acquired the remaining 40% stake held by the NTS Group in HCL Infosystems MEA.
HCL Infosystems Ltd., through its wholly owned subsidiary HCL Insys Pte. Ltd., Singapore has bought the stake in HCL Infosystems MEA FZCo. Following the transfer of shares, the FZCo shall be converted into a FZE (free zone establishment) owned solely by HCL Insys Pte. Ltd., Singapore. HCL Infosystems MEA FZE now becomes a wholly owned subsidiary of HCL Infosystems Ltd.
NTS Holding BVI was a leading IT services and Solutions Company based in Dubai. HCL Infosystems had earlier acquired 60% of NTS Group in 2010 to expand its global footprint in the Middle East and African market with direct operations to address the system integration and services need in these regions.
“HCL Infosystems MEA becoming a wholly owned subsidiary of our company is a significant step in our overall global emerging market strategy and also is a huge development for our operations in Middle East. This buy out will put us in a stronger footing in the Middle East market and enable us to quickly expand our business in the region”, said Shivkumar Gopal, CEO, HCL Infosystems MEA.
“We will now focus on enhancing our capabilities and offer more solutions, services and products to our customers here in the region. The Middle East business is very important to us and is the centre of growth that drives our overall emerging market business”, he added.
The company’s increasing presence in global emerging markets such as Middle East, Africa and South East Asia represents an important step in the company’s transformation strategy that includes the focus to accelerate growth in targeted international markets by offering a complete set of products, service and solutions.