UK firm New Call Telecom to invest $100 mn in India.

Britain-based New Call Telecom (NCT) recently said it would invest about $100 million in India over the next 18 months in acquiring a controlling stake in four technology companies and to provide them development capital.

NCT is known for affordable telecom products for residential needs in the UK. It will invest in fixed-line broadband, public Wi-Fi and messaging. It is expected to announce the names of the four companies over the next few weeks. The company declined to disclose the names of the firms it was acquiring as the regulatory clearances and some negotiations are still in process.

As the company was investing in mid-sized companies in broadband value-added space, most of the investment would be spent as development funds, said chairman Jerome Booth. With the acquisitions, the company will have a pan-India presence.

BS