Punj Lloyd signs deal to divest interests in ISP division
Punj Lloyd has signed an agreement to divest interests in its ISP division to a joint venture formed between Shyam Group and Spanco Telesystems & Solutions.
By ET Online |
MUMBAI: Punj Lloyd has signed an agreement to divest interests in its ISP division to a joint venture formed between Shyam Group and Spanco Telesystems & Solutions.
Shyam Group, the promoters of Shyam Telelink, a nationwide unified service access licensee and Spanco Telesystems is one of the leading telecom systems integration and IT services company.
The deal is expected to close over the next few months and is subject to statutory and regulatory clearances.
"We are pleased with the move as the JV has the synergies as well as the ability to carry forward the service standards maintained by us for our customers. We strongly believe that this acquisition by the new promoters will ensure the future growth of our ISP division's employees as well," said Atul Punj Chairman of Punj Lloyd Group.
Shyam Group, the promoters of Shyam Telelink, a nationwide unified service access licensee and Spanco Telesystems is one of the leading telecom systems integration and IT services company.
The deal is expected to close over the next few months and is subject to statutory and regulatory clearances.
"We are pleased with the move as the JV has the synergies as well as the ability to carry forward the service standards maintained by us for our customers. We strongly believe that this acquisition by the new promoters will ensure the future growth of our ISP division's employees as well," said Atul Punj Chairman of Punj Lloyd Group.
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