Redington (India) Ltd today informed the Bombay Stock Exchange that Redington Gulf FZE, a step-down subsidiary of the company, has been appointed by Apple Inc as a distributor for iPhones in the UAE with immediate effect.
This is a key addition to Redington Gulf's Telecom distribution portfolio and the company expects the development to significantly increase its offering to customers in the smartphone category.
Two days ago Redington Gulf FZE entered into a definitive agreement to acquire 70 per cent in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A. S, Turkey (Linkplus).
This proposed acquisition is subject to regulatory approvals by authorities in Turkey.
Established in 1995, Linkplus is a leading ORACLE distributor in Turkey. The balance 30 per cent will be acquired over a three-year period. The company has been valued around 6X future earnings.
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