TVS Electronics to acquire some business of TVS-E Servicetec

NEW DELHI: IT hardware firm TVS Electronics today said its board has decided to acquire certain growth business from its sister concern TVS-E Servicetec.

The acquisition will include customer contracts, assets, systems and processes and other rights of business segment which will be hived off from TVS-E Servicetec.

The acquisition, however, is subject to required consents, the company informed the BSE.

Both companies are part of TVS Investments - belonging to the USD 3.5 billion Japan-based TVS group.

TVS Electronics started as an IT peripherals maker and has transformed into an IT Transaction Solution provider and Business Process Outsourcing partner.

TVS-E Servicetec stemmed from providing Warranty and Post warranty support for the TVS Electronics range of Computer Peripheral Products.

The company later expanded to installation and support of products like cellphones, point of sales devices, desktops, laptops, credit card terminals, ATMs, petro-station automation projects and telecom base station projects.