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India : KAVVERI TELECOM enters into Defence and Aerospace sectors [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Recently, Telecom,the Telecom equipment manufacturer based in Bangalore, entered into Defence and Aerospace businesses.To back its presence in these ventures, the company is searching for acquisitions abroad. Mr.Shivakumar Reddy,Managing Director,Kavveri Telecom Products said to help new product development,new business initiatives and also to be an end-to-end full service wireless infrastructure product and solutions company ,the company plans for three acquisitions. For this purpose,100 people would also be hired by the company. The company promoters will increase their stake from the current 32 per cent to 37 per cent to fund the acquisitions. According to Mr Reddy,in order to build up solutions for defence components and subsystems, the company s R & D team would also be expanded using the funds. He said in order to upgrade the company s variety of telecom and defence products, the company is working on embedded technology and analog systems would be upgraded to digital and radiofrequency systems would be modified. R & D expenses accounts for about six per cent i.e. Rs 15 crore of the company s revenues.This year,the company is planning to establish more R & D centres in India as well as abroad. Mr Reddy said Kavveri will establish a manufacturing facility near Bangalore to manufacture antennas for export by investing $2 million. Radio frequency products and antennas are made by Kavveri telecom and supplied to companies such as Alcatel Lucent,Nokia Siemens Networks,Bharat Electronics, Reliance Communication,Airtel,Vodafone,Idea,Aircel and BSNL. (c) 2012 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |