British Telecommunications (BT) has completed the acquisition of i2i Enterprise Pvt Ltd following governmental and regulatory approvals.
BT had planned the acquisition in February through BT Telecom India Pvt Ltd, its joint venture company with Jubilant Enpro Pvt Ltd. i2i is a Mumbai-based enterprise services company that specializes in Internet protocol (IP) communications services.
“The completion of this process provides impetus to our expansion plans and underscores BT’s commitment to India which is today the world's fastest growing IT and business process outsourcing market,” said François Barrault, CEO, BT Global Services.
“The combination of BT and i2i establishes a broad-based platform for growth in India. The complementary assets and expertise of the team provides a strong manifesto for growth and success,” said Allen Ma, president, BT Asia Pacific.
BT predicts that its revenues from India will be $250 million by 2009. It is planning to hire 6,000 people within the next two years. BT was granted international long distance and national long distance license by the Department of Telecommunications in February. The licenses enable BT Telecom India to offer services for the first time directly to multi-site corporate customers in India.
Source : CIOL