Friday, May 20, 2016

@tata_comm to sell 74% of data centre biz for $635m to ST Telemedia

Tata Communications has signed a definitive agreement with ST Telemedia, a unit of Singapore state investment firm Temasek, to sell 74% of its data centre business in India for $467 million and an equal stake in its Singapore data centre business for $168 million, thus taking the full value of the deal to $635 million.

Acquisition of 74% of Tata Communications’ data centre business in India and Singapore will bolster ST Telemedia’s global data centre position as a leading player in Asia.

Tata Communications retains a significant stake, while sharpening focus on global advanced network services and managed solutions.

New joint venture partnership will now allow us to hone our strategic focus said Vinod Kumar, Managing Director and CEO, Tata Communications

In 2014, the Indian data centre business of Tata Communications Limited was transferred to its wholly-owned subsidiary Tata Communications Data Centers Private Ltd (TCDC) through a High Court approved process. Today, TCDC owns and operates a total of fourteen data centres, including facilities in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad and Pune.