Bangalore, July 02: Antennas and radio frequency
products manufacturer Kavveri Telecom on Thursday announced the
acquisition of Canadian firm Trackcom Systems International,
which is expected to boost the domestic company's position in
defence and telecom sectors.
Announcing the acquisition Kavveri's Managing Director
Shivakumar Reddy said, "This acquisition brings additional
high technology products into our portfolio which will
strengthen Kavveri's position in defence, space and telecom
products."
Kavveri picked up 67 per cent stake in the design and
development company, while the remaining 33 per cent equity
would be bought out in the next four to five years. He
declined to talk about the cost of the acquisition citing
non-disclosure agreement, Reddy told reporters here.
The buyout gives Kavveri access to a vast portfolio of
radio frequency products and antennas up to 40 Ghz useful for
space, defence and telecom applications.
Last year, defence and space sectors contributed three
per cent of Kavveri's total revenues, Reddy said this figure
is expected to jump to 15 per cent in 2011-12.
To a question, Reddy said the advent of 3G in India
would result in the company getting 20-30 per cent more
business, and that of WiMAX, would give "huge additions".
TSI's customers include North Atlantic Treaty
Organisation (NATO), he said.
Bureau Report
First Published: Thursday, July 02, 2009, 18:52