Bharti to buy Comsat Max for Rs 33 cr

NEW DELHI: Bharti Infotel, a wholly-owned subsidiary of Bharti Tele-Ventures, has decided to buy VSAT service provider C-Max and its 100 per cent subsidiary Comsat Max for Rs 33

crore. 

The two companies being acquired have a total revenue of about Rs 50 crore.

The move will strengthen Bharti Infotel's enterprise and broad band businesses.

Bharti Infotel president Badri Agarwal said: "The move will make Bharti among the largest players in the Vsat service industry and provide a strategic fit to its broadband and enterprise solutions businesses." 

Comsat Max would bring in about 400-500 customers for his company. The new client base would give Bharti a strong presence in banking and financial sectors, Agarwal added. Bharti will absorb the 130-odd staff of the Max firms. With the acquisition, Bharti will take over all the assets and liabilities of the two companies, including VSAT hubs in Delhi and Mumbai and a data centre. The Max companies will bring in 4,300 installations across the country.

Max India Ltd., a mid-sized drug maker and healthcare provider, informed the Bombay Stock Exchange on Monday it would consider a proposal to sell its VSAT unit to Bharti Infotel.