Flextronics buys 55% stake in Hughes

Flextronics buys 55% stake in Hughes

NEW DELHI: Singapore-based Flextronics has bought a 55 percent stake in India's Hughes Software Systems for S$226 million from Rupert Murdoch-controlled DirecTV company.

Flextronics will also have to make an open offer to buy an additional 20 percent stake from the shareholders of Hughes that will cost S$82 million, a joint statement said late on Tuesday.

Hughes provides software systems for fixed and mobile phone networks for both voice and data. The company earned revenues of US$80 million in the financial year ended March.

It has two development centers in India; one in Gurgaon, located on the outskirts of the national capital, New Delhi, and another in the information technology hub of Bangalore. -- AFP