Hyderabad, January 25: Bathina Technologies Ltd (B-TIL), of Hyderabad and TelecomPlus of Saudi Arabia have entered into a strategic tie-up to tap telecommunication and internet technologies market in the middle east.The two companies have entered into an MOU whereby TelecomPlus shall invest over $ 1 million in the equity of B-TIL and source software development business for the company."By tying up with TelecomPlus, B-TIL is well positioned to service customers in the middle east, a region which was hitherto untapped by the company", V Rao Bathina, chairman said in a statement on Tuesday B-TIL is an ideal fit both in size and technologies and Telecomplus should be able to generate over $100 million business for the company in the next five years from the regin, Asif Ahmed, DGM, TelecomPlus added.
The Hyderabad based B-TIL, formerly called Srico System Ltd., had come into news earlier this month when it tied-up with leading local English daily Deccan Chronicle for setting up a joint venture to convert the newspaper's website into a business portal.
Under the arrangement with Deccan Chronicle B-TIL has proposed to takeover a BSE listed software company to move faster towards making the JV operational. Further, B-TIL also proposes to enter the ISP business, either through an acquisition or setting up one of its own.
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