Aftek Forms JV With Aftek3GTel

Aftek Infosys and UK-based Aftek3GTel envisage a joint venture with 49% of the equity coming from Aftek and the rest from the CTO of 3

June 11, 2003

3 Min Read

MUMBAI, India -- Mumbai based Aftek Infosys Limited has signed a Memorandum of Understanding with UK based company - Aftek3GTel. The joint venture envisages Aftek Infosys bringing in 49% of the equity and the rest being contributed by Mr. Niran Talgeri, the Chief Technology Officer of 3 - the UK based 3G Product and Services Company formerly known as Hutchison 3G, UK.

Aftek3GTel will be engaged in the area of Wireless and Mobile, particularly in the 3G space and in other emerging technologies. Besides the development of critical IP (Intellectual Property) based components and productisation of IPRs, the joint venture will also work towards bagging service business in the Mobile and Wireless space from several clients including 3.

Mr. Talgeri has several patents and IPRs to his credit. In fact, seven IPRs owned by him, have recently been acquired by 3. Aside of the other IPRs owned by him, Mr. Talgeri would also bring into Aftek3GTel, his capabilities and experience at creating new IPRs and the strong relationship with 3.

Aftek Infosys comes in with the background of its success in building and productising strong IPRs. Aftek, in course of time, is investing upto £2.5 million in creating the infrastructure to productise IPRs held within Aftek3GTel and those acquired by 3 in the recent past. Towards this, and to execute Service contracts that would flow into the company via the joint venture, Aftek would be augmenting the staff strength at Aftek3GTel.

3G technology in UK is currently spearheaded by 3 -- the main agency of Hutchison Whampoa, the Hong Kong based ports and telecom group, which is investing over US $16 billion in 3G technology over the next two years in UK.

While signing the Memorandum that brings to effect the joint venture, Mr Ranjit Dhuru, Chairman and CEO of Aftek Infosys said: "The joint venture provides Aftek with an avenue to exploit the strong growth opportunities in the Mobile and Wireless and 3G space. Backed by our success in creating and productising strong IP based components and new IPRs, we are hopeful that the joint venture will help us gain a strong foothold in UK."

Mr Niran Talgeri, CEO of Aftek3GTel said: "From ideating to creating, productising and maintaining new IPR based components and products, there is a lot of work involved. Of course, the value addition that brings with it too. The investments being made in the 3G space is a testimony of the huge growth potential that exists in this area. Together with Aftek, we are confident of being able to bag a sizeable portion of the pie."

Aftek, a dominant player in the enterprise business management solutions space with focus on Infrastructure, Information and Processes management, recently acquired a 49% stake in Arexera Information technologies GmbH, a Munich based company with considerable experience in the development of innovative technologies and complex solutions in the fields of Knowledge Management, Data Compression and Content Management. Aftek's GDRs are listed on the Luxembourg Stock Exchange, the Company's stock is listed on the BSE, NSE, Pune and Ahmedabad stock exchanges.

Aftek Infosys Ltd.

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