In a recent official statement released by the company, the GPS products and services vendor, Dhanus Technologies has informed that it is planning to make a huge investment of $20-$30 million for acquiring some alternative telecom companies in Europe and Canada soon. The company has informed that these strategic purchases are actually being planned for expanding the offerings of the company in these markets. The company also said that the acquisitions are going to be funded entirely through the internal growth accruals.
Informing all these information, the Vice-Chairman of Dhanus Technologies, Mr. Muthukrishnan said, "We are in talks with telecom companies who have synergies with our operations and expansion plans in Europe and Canada". He said that the company has recently acquired a 100% stake in the Turkish alternative telecom operator, Borusan Telecom for an estimated investment of $30-40 million in the month of January, 2008. He added that the company is also planning to extend its telematics product Fleetrac to the markets of Europe, Canada and US.
The sources from the industry have informed that the Chennai-based company has already signed a memorandum of understanding (MoU) with the Delhi Transport Corporation (DTC) for installing and maintaining the Fleetrac tracking devices on 6,000 DTC buses. Mr. Muthukrishnan added, "The scope of the project also includes DTC bus stops and shelters. We are setting up Fleetrac familiarizing equipment and instructions for passengers at 600 bus stops and 60 shelters in Delhi". He informed that Dhanus is catering to a number of 60 clients at the moment and it is expecting to bag some more orders for about 13,000 units of Fleetrac from the transport bodies in Kuwait by the end of the year. He further said that the company is also planning to extend its global calling card offerings under the V-Tel brand to the international users later this month.
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| Posted : 4/11/2008 |
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