Spanco Telesystems & Solutions Ltd acquires 51% in Skandsoft Technologies Pvt Ltd

Spanco Telesystems & Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on August 17, 2006 has approved the following:

1. The acquisition of 51% equity stake in Skandsoft Technologies Pvt Ltd engaged in the business of RFID Solutions.

2. The proposal for entering into a Joint Venture with Golden Key Solutions in Oman for its Network System Integration and IT Solutions business. The Company will hold upto 51% equity in this Joint Venture.

3. The proposal to setup / acquire BPO / Call Centre(s) in Dubai and Qatar through its JV company.

4. To make investment upto $10 mn in the above ventures, subject to necessary approvals of the statutory authorities / shareholders.

5. Authorized Mr. Kapil Puri Chairman and Managing Director to negotiate and sign the necessary documents on behalf of the Company in the above matters.

Source : Equity Bulls

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