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