HCL Infosystems to sell HCL Infinet to Tikona

NEW DELHI: IT hardware maker HCL Infosystems today said it will sell its wholly owned subsidiary HCL Infinet to internet services provider Tikona Digital Networks.

The sale of shares is subject to and shall be effective post necessary regulatory approvals, HCL Infosystems said in a statement.

When contacted, the company declined to comment on the deal size.

"HCL Infinet is today poised to take on a different growth trajectory and is best suited to further strengthen an enterprise like Tikona focused on delivering ISP and NLD services in the fast emerging telecom industry," HCL Infosystems Chief Executive Officer Harsh Chitale said.

The move comes as a part of HCL Infosystems' transformation strategy under which the company will be further strengthening its core business and expanding into identified growth areas, he added.

HCL Infinet had commenced its ISP/NLD operations in 2000.