HCL and Techmart Telecom on strategic association

HCL Infosystems Limited and Techmart Telecom Distribution FZCO, a Dubai-based partner of Nokia Corporation on a strategic association. This partnership enables HCL to expand its global distribution footprint in the emerging markets of Middle East and Africa. HCL will provide consultancy and operational services to Techmart Telecom. HCL signed Share Purchase Agreement (SPA) to acquire 20% equity stake.

HCL Infosystems and Techmart will focus on building the distribution business to cater to the Middle East and African Market. The agreement also provides an option to HCL to acquire up to 51% of equity stake in Techmart Telecom Distribution FZCO. This agreement intends to augment the growth of Nokia smart phones business in Middle East and Africa.