wordpress blog stats
Connect with us

Hi, what are you looking for?

Sprint Eyes Indian Market; JV With Persistent Systems

US based wireless provider Sprint Nextel is all set top enter the Indian market via a joint venture with Persistent Systems, an outsourced software development firm. The JV company will provide national long distance, international long distance, Internet services and managed network services in India.

Although, the amount being invested in JV has not been disclosed.Sprint, through its international holding company, will have a 74 percent stake in the JV, staying within limits of the permitted FDI limit. Persistent will own the remaining 26 percent equity in the JV. Sprint’s investment in the company is subject to the approval of the Indian Foreign Investment Promotion Board (FIPB) and the company will commence operations after regualtory approvals are received.

Sprint Nextel is the third largest American telecom operator, with 49.9 million customers at the end of 2010, and the first one to start WiMax based 4G wireless services. It runs CDMA and iDen based mobile networks and owns prepaid brands like Virgin Mobile USA, Boost and Assurance. It is also a long distance provider and a global internet carrier comprising a major part of the internet backbone.

Sprint generated free cash flow of $2.5 billion for 2010, consolidated net operating revenues of $32.6 billion, and an operating loss of $595 million, a 57% improvement compared to 2009.

Persistent develops solutions for customers in technology, telecommunication, life science, healthcare, banking, and consumer products sectors across North America, Europe, and Asia. It also has a telecom business unit that focuses mainly on enterprise services like IP communications, OSS/BSS and mobility. It looks like, Persistent is an enabler for Sprint’s entry into the Indian market. Unless the course it is detracted by the hurdles of regulatory framework.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ