Apart from being a client of Sasken, North American telecom equipment maker Nortel is also a key investor in the company, holding over 10 per cent stake which it had bought in 2005. The company has invested close to $10 million to acquire the stake. Even before the filing of bankruptcy by Nortel, there was talk in the industry that Nortel is exploring a possible exit from Sasken.
Software services firm Sasken Communication Technologies Ltd has acquired Finland-based Botnia Hightech Oy, a leading provider of wireless research and development and testing services, for about Rs 209 crore (Rs 2.09 billion).
Staffers on the bench and trainees at Bangalore-based Sasken Communication Technologies will work for only three days a week and draw at least 60 per cent of their salary during the current (Jan-March) quarter.
The JV TACO Sasken Automotive Electronics has been called off and over 100 people working for the JV have been asked to quit. In January 2007, Sasken and Tata AutoComp Systems had formed the JV with a focus on automotive electronics products in the areas of telematics, infotainment and occupant convenience. However sources say that even two years after its formation, the JV could hardly make any progress.
Nokia Growth Partners, a global mid to late-stage venture capital fund, has invested $3 million in Bangalore-based telecom research and development firm Sasken Communication Technologies to pick up an equity stake.
Telecom Research & Development entity Sasken Communication Technologies Ltd has received a $10 million equity investment from global networking major Nortel Networks
Technology major Sasken Communication Technologies on Wednesday acquired Chennai-based Integrated SoftTech Solutions (iSoftTech) for $1.45 million.
Telecom R&D outsourcing company Sasken Communication Technologies Ltd will hit the capital market with an initial public offer on August 11 for raising upto Rs 130 crore
Bangalore-based Sasken Communication Technologies has lost a case to 3g.com in an international arbitration court, and has been asked to pay $1.15 million as damages for failing to supply products under the terms of a contract between them.
Telecom R&D outsourcing company Sasken Communication Technologies' initial public offer to raise Rs 115-130 crore (Rs 1.15 to 1.3 billion) opens for subscription on Thursday.
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