VSNL may unveil $90 mn bid for Data Return.

Economic Times (New Delhi, India), January, 2007

Byline: Sushmita Mohapatra

Jan. 5--BANGALORE, India -- The growing market opportunity in the converged telecom and IT market is likely to see VSNL, an international long distance telecom major and part of the Tata group, making a $90-100 million bid for a US-based technology entity which is into managed hosting services (MHS) and IT operations (ITO).

According to sources, VSNL is eyeing an acquisition of Data Return, a privately-held entity which primarily caters to the North American market. The auction process for the proposed sale has evinced interest from two other bidders. Data Return is 80 percent owned by the investment firm Saratoga Partners with the rest being held by the management. It has a headcount of around 250.

Data Return...

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