The Hindu Business Line : TVS Interconnect to buy Ramco unit

Chennai April 12 TVS Interconnect Systems Ltd (TVSICS), a wholly owned subsidiary of T.V. Sundaram Iyengar and Sons Ltd, is to acquire Ramco Infotech Solutions Ltd, a wholly owned subsidiary of Ramco Systems.

The divestment would help Ramco to focus on its core business "developing next generation enterprise applications'', says a company press release.

Sources in Ramco told Business Line that the consideration of the sale would be known only after the due diligence exercise is over. Ramco has about 250 employees on its rolls.

The Secured Converged Networking division of Ramco was spun off into a 100 per cent subsidiary Ramco Infotech from April 2006. TVSICS provides wireless solutions, carrier solutions, project management services, networking solutions and manufacturing of telecom-related equipment, it said.

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