BANGALORE: Kavveri Telecom on Saturday said it has completed its acquisitions in Europe with the purchase of Rymsa Telecom Business of Radiacion y Microondas.
It will invest euro 20 million in Rymsa and the acquisition coincides with the launching of 3G in India, Kavveri Telecom MD Shivashankar Reddy told reporters here.
The acquisition significantly enhances Kavveri's antenna product portfolio and expands the existing sales channels for its group of companies in Europe and Latin America, the two key geographical markets, he said.
Adding that Rymsa has technology that would enhance tower handling capacity of operators, which help bringing down cost, Reddy said Kavveri would create separate manufacturing facility for Rymsa requirements at its existing plant in the city.
Kavveri achieved revenue of Rs 315 crore in 2010-11 and profit before tax at Rs 38 crore, he said.
Rymsa Director General Miguel Sanchez Morga said the firm was already supplying 4G equipments in Europe.
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