Networking and system integration company Spanco Telesystems has diluted a stake of 15% stake to private equity firm ChrysCapital. The financial details of the deal have not been disclosed.
Spanco expects to benefit from the domestic IT spend by telecom service providers, defence, 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. It has recently been awarded a 10-year, nation-wide outsourcing contract from Indian Railways.
Read The Economic Times article.
Dealcurry: Capital Markets, Investment Banking, Private Equity 