HCL Infosystems on Thursday said it would pick up a 20 per cent stake in the Dubai-based Techmart Telecom Distribution, the distributor for Nokia smartphones in the Middle East and Africa regions.
HCL Infosystems will also be providing consultancy and operational services to Techmart Telecom, leveraging the company's expertise in the telecom distribution space. With this strategic development, HCL Infosystems plans to expand its global distribution footprint in the emerging markets of Middle-East and Africa. HCL is one of Nokia's distributors in India.
The agreement also provides an option to HCL to acquire up to 51 per cent equity stake in Techmart Telecom Distribution.
Strengthening footprint
“We have taken another step in further expanding into emerging markets of Middle East and Africa. This move would strengthen our footprint in the Middle East and African countries,” said HCL Infosystems CEO Harsh Chitale. The company has signed the share purchase agreement for acquiring a 20 per cent stake through its Singapore subsidiary, HCL Investment.
