VSNL to acquire Direct Internet for $16.7 million
Tata’s VSNL is continuing with its acquisition spree as they have now announced their decision to acquire Direct Internet Ltd. and its wholly owned subsidiary Primus Telecommunications India Ltd.
The deal is worth around 750 million rupees and is expected to be completed in the next couple of weeks.
Direct Internet provides Internet-based voice and data services while PTIL provides Internet service to small and medium enterprises in Indian cities.
VSNL has been keep on acquiring internet providing companies and just recently acquired telecoms network service firm Teleglobe International Holdings Ltd. They also acquired Tyco International’s global under-sea fiber optic cable network unit in July 2005.
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