Singapore Technologies Telemedia (STT) through its global data centre subsidiary ST Telemedia Global Data Centres (STT GDC) will acquire 74% of Tata Communications’ data centre business in India and Singapore. Tata will remain as a significant shareholder in its data center business by holding the remaining 26% stake. The transaction will be closed within the coming weeks. A Mint report pegged the size of deal at $634 million. Tata Communications’ chief executive officer Rangu Salgame told the publication that the sale of its data centers would help it to invest the money “in newer areas such as cloud and e-commerce.” Strategic partnership to share data centres Both companies have also entered into a strategic partnership wherein Tata Communications’ 14 data centres in India and 3 Singapore facilities will be hived-off to Singapore Telemedia. STT GDC will use these assets to further strengthen its Asian data centre networks in India and China. However, Tata Communications will retain a stake in these markets, by focusing on providing services like cloud networks, unified access networks, IP services, among others. Vinod Kumar, Managing Director and CEO, Tata Communications, said: “Our new partnership also gives us the opportunity to redeploy capital behind other areas of our business, to further broaden the portfolio of services we can offer to meet our customers’ current and future requirements.” About Tata Communications’ data centers In 2014, the Indian data centre business of Tata Communications was transferred to its wholly-owned subsidiary Tata Communications Data Centers (TCDC) through a High Court…
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