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Tikona Buys Loss Making Networking Services Co HCL Infinet

Tikona Digital Networks, a wireless broadband ISP with BWA spectrum in five circles, will acquire networking services company HCL Infinet, a wholly owned enterprise networking services subsidiary of IT major HCL Infosystems. The sale is subject to regulatory approvals, and the terms of the deal have not been disclosed. Tikona, with former Reliance Communications President and CEO Prakash Bajpai at the helm, has wireless broadband spectrum in five telecom service areas. It is backed by private equity companies Goldman Sachs Investment Partners, Indivision India Partners, Oak India Investments and Green Lotus Investments.

What Has Tikona Acquired?

This is probably a client and a license acquisition: HCL Infinet started its ISP/NLD operations in the year 2000 and holds licenses to operate as a Class A ISP, and Internet Telephony Service Provider (ITSP) and NLD service provider. Tikona Digital already has a Class A ISP license ((number 820-1019/08 LR, dated 09.09.2008), but we’re not sure if they’ve got NLD and ITSP licenses.

HCL Infinet provides Internet access services, virtual private network, Network Management, Data Centre, CoLocation, Internet Telephony, Enterprise Mailing Solutions etc to enterprises in Aviation, Manufacturing, Banking and Financial Institutions, FMCG, Education, etc.Banking and Financial Institutions, FMCG, Education, etc. For Tikona, which has so far launched consumer facing wireless broadband services in unlicensed spectrum, the opportunity will be to address a more lucrative enterprise services base, with faster wireless services. As of April last year, Tikona operated in Mumbai, Delhi-NCR, Chennai, Bangalore, Pune, Hyderabad, Kolkata, Indore, Ahmedabad, Surat

HCL Infinet’s Financial Performance: Rs. 12 Crore Loss

Launched in 2000, HCL Infinet (previously Microcomp) reported a loss after tax of Rs. 12.09 crore for the financial year ended June 30th 2010, on a turnover of Rs. 76.66 crore, as per HCL Infosystems’ last Annual Report (pdf). The previous year, the company reported a turnover of Rs. 46 crore.

Tikona had paid Rs. 1058.2 Crore for Broadband Wireless Access spectrum in five service areas – Gujarat, Uttar Pradesh (East), Uttar Pradesh (West), Rajasthan and Himachal Pradesh.

Related:
HCL Wins Contract For 100,000 $35 Tablets For India
India’s Broadband Wireless Auction Ends; Operator & Circlewise Results
HCL Launches ME Gaming Consoles; What Is A Converged Handheld Gaming Console?
– Why Is Tikona Bidding For Broadband Spectrum, When It Already Operates In Free, Unlicensed Spectrum?

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