Network security provider Elitecore Technologies Limited is in talks with a few leading telecom products players in Europe for acquisitions of around $30 Mn.
The planned acquisition would be funded by more private investment from existing investor Carlyle or any other player, apart from debt and company’s own cash accruals.
Back in 2007, Carlyle Group had invested $10.3 Mn in the company for around 33% stake to boost growth.
Started in 1999, Elitecore Technologies is a tech firm focused on IP-based technologies. It provides business critical solutions for Telecommunications, Network Security and Access Gateway with sales and distribution channels spanning across more than 110 countries.
With its headquarters lying in Ahmedabad, it had offices in North America in the regions of Plainsboro and New Jersey.
To know more: Elitecore Technologies
The IT and tech outsourcing industry has been shifting focus to inorganic growth prospects in the European region with business in India facing slowdown.
IT major Infosys recently concluded the deal to acquire Swiss firm Lodestone for around $350 Mn which would help Infosys strengthen its management consulting and systems integration facilities along with addition to its consultants and clients base.
Earlier this month, NIIT Technologies signed an agreement to acquire Sabre Holdings' Philippines Development Centre to enhance its delivery capabilities after it bought out European and Madrid based Proyecta Sistemas de Informacion S.A.
Last month Aurionpro Solutions also signed an agreement to acquire communication solution provider SEEinfobiz.
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