Software services firm Tulip plans overseas acquisition
Data communications and software services firm Tulip IT Services plans to acquire a company in the US or Europe and has earmarked USD 40 million for the buy out.
By PTI |
MUMBAI: Data communications and software services firm Tulip IT Services plans to acquire a company in the US or Europe and has earmarked USD 40 million for the buy out, a top official said on Monday.
"The acquisition will either be in the United States or in Europe," Tulip Chairman and Managing Director H S Bedi told reporters on the sidelines of a CII-organised Banking technology conference here.
"We are opening up five data centres, of which two are operational. Besides the other corporate customers that we have, there are two large foreign companies who have signed agreements," Bedi said.
The company has already signed an agreement two months back and the other one is in the final stages, Bedi said.
However, he refused to give details of the foreign telecom companies.
"We are planning to role out our services in 1,100 cities and six lakh villages," he added.
"The acquisition will either be in the United States or in Europe," Tulip Chairman and Managing Director H S Bedi told reporters on the sidelines of a CII-organised Banking technology conference here.
"We are opening up five data centres, of which two are operational. Besides the other corporate customers that we have, there are two large foreign companies who have signed agreements," Bedi said.
The company has already signed an agreement two months back and the other one is in the final stages, Bedi said.
However, he refused to give details of the foreign telecom companies.
"We are planning to role out our services in 1,100 cities and six lakh villages," he added.
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