4/9/2008 11:58:00 AM
Indian IT firm targets UK mobile distributors
A major Indian IT firm is understood to be targeting a move into UK mobile distribution.
New Delhi-based Triton Corp is said to be lining up a deal to take over a distributor in the UK.
Local reports claims that Triton is close to a transaction to acquire a £130m UK-based IT and telecom services firm, making it one of the top acquisition deals ever struck by an Indian IT company.
The report didn’t name the target company, but said it was a ‘wireless data solutions company’ and a distributor for mobile products and services in the UK.
The report added that it is a privately-held company with annual revenues of about £130m and employs over 200 people.
Mobile sources said Data Select had been targeted and it is believed that early discussions took place between the two companies, but Data Select bosses denied they were on the verge of being sold. MD George McPherson said: ‘I cannot see a deal for us being done anytime in the near future.’
Another senior distribution source told Mobile that he knew of several companies that have looked at Data Select, so it wouldn’t surprise him if Triton was also looking at the company. However, he added: ‘I wouldn’t be surprised if we were still talking about people taking a look at Data Select, or any other distributor for that matter, in a year’s time. It is not an easy time to be in this sector.’
Publicly-listed Triton is a fast growing business entity providing IT and IT-enabled services globally.
Reports suggest the board of directors at Triton have given the go-ahead to raise funds through a mix of debt and equity to enter UK distribution.