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Follow UsBANGALORE: Global IT major IBM has acquired Network Solutions Pvt. Ltd., a Bangalore-based infrastructure services company.
The acquisition comes barely a week after the unpublicized four-day visit of IBM chairman & CEO Samuel J. Palmisano to India. The IBM chief was in Bangalore last week.
According to sources, IBM has started the process of acquiring the entire equity capital of Network Solutions making it a wholly owned subsidiary. This transaction is expected to close within a month.
This strategic investment will enable IBM to augment its networking and managed services portfolio of offerings in India and broaden its reach across the country.
The acquisition of Network Solutions will enable IBM to consolidate its leadership in the Indian domestic services market by strengthening its services capabilities in the area of infrastructure services solutions for the enterprise & mid market business segment, IBM said.
"IT infrastructure forms the backbone of development and growth of any economic activity. The acquisition of Network Solutions will enable IBM to consolidate its leadership in domestic services and leverage its capabilities in building world-class infrastructure for our clients. This strategic investment is yet another initiative reflective of IBM's commitment to domestic services in India,” said Shanker Annaswamy, managing director, IBM Global Services India.
Established in 1993, NetSol specializes in implementation of convergence solutions for data, voice and video, security, wireless technology solutions, WAN & LAN implementations, infrastructure management, network design and implementation, structured cabling solutions, network management including remote management services and IP telephony services.
"Network Solutions is focused on using continuous innovation to create value for our client's business," said Sudhir Sharma, managing director, Network Solutions. “As a combined entity with IBM, we will be able to achieve this mandate more effectively and be in a position to offer clients IBM's portfolio of offerings and expertise, in addition to our solutions, along with our industry and technology expertise."