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Financial

Tano Invests in Icomm

SAN MATEO, Calif. -- Tano Capital, LLC, on behalf of Tano India Private Equity Fund I, is pleased to announce the investment of INR 500 million (US $12.45 million) into India-based Icomm Telecommunications Ltd. (“ICOMM”) through the purchase of an equity stake from an existing shareholder.

Promoted by P. Ramarao, a first generation entrepreneur, ICOMM is one of the largest manufacturers and turnkey solution providers of telecom equipment and telecom infrastructure in India. ICOMM is also one of India’s largest manufacturers of power transmission towers.

ICOMM’s management team is headed by C.S. Rao, a graduate of IIT Chennai. Mr. Rao has been in the telecom industry for more than 25 years, having previously worked as a Managing Director at different times for Tellabs and Lucent India. Mr. Rao is supported by a team of professionals with long standing experience in their respective areas of expertise.

ICOMM’s clients include leading names in India’s telecom and power industries, such as Airtel, Alcatel, BSNL, the Government of India, MTNL, Nokia, PowerGrid Corporation of India, Reliance, Vodafone, several state electricity boards and the Ministry of Defense.

William G. Knuff, III, a Managing Director at Tano Capital, said, “We are very pleased to have the opportunity to invest in ICOMM. We like the management team, the business, and the growth prospects for this ancillary business to the telecom and power sectors. Our local partners did a fine job sourcing this opportunity; it nicely fit our key investment criteria and we look forward to a fruitful relationship.”

Tano Capital LLC

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