Gemini Communications Ltd (GCL) announced that it has acquired a majority stake valued at Rs 7 crore in Chennai based security and availability solution provider, Veeras Infotek.

The acquisition funded through internal accruals of GCL will enhance GCL’s network security, business continuity capabilities and overall customer base, says GCL.

Commenting on the development, Ram Kumar, Executive Director, GCL said “The addition of Veeras Infotek will advance GCL’s vision of becoming a major player in network security space. We are keen on to retain and grow the senior management of Veeras Infotek and will extend our expertise.”

The company now expects the current fiscal to result in increase in revenues by over 50% on Rs.200 crore-plus order books and Veeras buyout.