Singapore Technologies Telemedia, a strategic investor backed by Temasek Holdings, is reportedly eyeing a controlling stake in the data centre business of Tata Communications.
The deal to buy a 74% stake in the Indian firm is valued at 45 billion rupees ($964 million), media reports say.
STT's offer is supposedly the best among a list of interested buyers including Google, Amazon, Carlyle Group, Blackstone and Bain Capital, according to the reports.
No binding offers have been submitted yet, but exclusive negotiations are likely to commence soon and be concluded by the end of the month.
Tata will maintain a minority stake in the deal, while the buyer will run its data centre operations across 44 locations in India and overseas.
Tata Communications has been hosting and managing storage services through its 44 data centres acquired in 2013 and last year. It has a presence in the United States, Britain and Singapore, besides major Indian cities such as New Delhi, Mumbai, Bengaluru, Chennai and Kolkata.
It reported revenue of 51.3 billion rupees in the September quarter, a 1.2 % increase from a year earlier, but the company is finding returns on investments slow to come by, reports say.
India is one of the fastest growing markets for cloud services in the world, estimated to grow from US$423 million ($593 million) in 2013 to US$1.3 billion in 2017, according to research firm Gartner.
Last week, Temasek Holdings and a co-investor reportedly began talks to acquire a significant minority stake in online payments firm BillDesk, in a deal valued at about 10 billion rupees. Temasek had investments worth US$190 billion in India as at March, reports said.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
The deal to buy a 74% stake in the Indian firm is valued at 45 billion rupees ($964 million), media reports say.
STT's offer is supposedly the best among a list of interested buyers including Google, Amazon, Carlyle Group, Blackstone and Bain Capital, according to the reports.
No binding offers have been submitted yet, but exclusive negotiations are likely to commence soon and be concluded by the end of the month.
Tata will maintain a minority stake in the deal, while the buyer will run its data centre operations across 44 locations in India and overseas.
Tata Communications has been hosting and managing storage services through its 44 data centres acquired in 2013 and last year. It has a presence in the United States, Britain and Singapore, besides major Indian cities such as New Delhi, Mumbai, Bengaluru, Chennai and Kolkata.
It reported revenue of 51.3 billion rupees in the September quarter, a 1.2 % increase from a year earlier, but the company is finding returns on investments slow to come by, reports say.
India is one of the fastest growing markets for cloud services in the world, estimated to grow from US$423 million ($593 million) in 2013 to US$1.3 billion in 2017, according to research firm Gartner.
Last week, Temasek Holdings and a co-investor reportedly began talks to acquire a significant minority stake in online payments firm BillDesk, in a deal valued at about 10 billion rupees. Temasek had investments worth US$190 billion in India as at March, reports said.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment