Mumbai based Spanco Telesystems, one of India's leading networking and system integration company, has received private equity investment from ChrysCapital. After the transaction, ChrysCapital would hold around 15% stake in Spanco. | |
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| Mr. Sanjay Kukreja, Principal, ChrysCapital stated "Spanco will benefit from the domestic IT spend by Telecom Service Providers, Defense, State Governments as they roll out networks, including SWANs for e governance initiatives. The Company has grown revenues and profits at a CAGR of 60% and 108% respectively over the previous three years and is well positioned to continue on its growth path paved with new initiatives in the arenas of RFiD and enhanced presence in the European and Middle Eastern markets. We are pleased to partner the Company in fulfilling its ambitions." |
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| Commenting on the transaction, Mr. Kapil Puri, Chairman & Managing Director, Spanco Telesystems said, "We are very pleased to be associated with ChrysCapital, one of India's largest and most reputed private equity firms. With its deep knowledge in the IT space, a partner like ChrysCapital will help the company exploit the opportunities available in our industry. |
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| About Spanco Telesystems: Spanco Telesystems and Solutions Ltd. is one of the leading networking and systems integration solutions company in India. From providing telecom integration services to multinational, public sector units and India's vast Defense sector, Spanco has evolved to extend its expertise into the dynamic space of Call Centre and Business Process Outsourcing. The recent initiatives include foray into RFiD space and enhanced presence in European and Middle Eastern markets. Spanco has also been recently awarded a Ten Year, nationwide outsourcing contract from Indian Railways. |
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| About ChrysCapital: With over 40 investments since 1999, ChrysCapital has emerged as one of India's leading and most well respected private equity firms with valuable experience in investing across a breadth of sectors that leverage growth in the Indian economy. ChrysCapital manages around $1 billion across four funds and has a track record of partnering with several world-class companies like Mphasis, Spectramind, Suzlon, Gammon, Idea and UTI Bank. |
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