CommsDesign – India’s Tata Group acquires Tyco Network at bargain price
In a new indication that the sale of U.S.-built telecommunications infrastructure to foreign interests at fire-sale prices is continuing, Tyco International announced Monday (Nov. 1) that it is selling its Tyco Global Network to India’s Tata Group. Tyco and Tata said the world’s most advanced and extensive submarine cable system will be transferred to Tata’s Videsh Sanchar Nigam Ltd. (VSNL) for $130 million. Tyco positioned the network for sale last year by writing down the value of the network by $1.2 billion. During the height of the telecom bubble, the network had a market valuation of more than $3 billion
Smart move.
It was the cheap price of international communications, via those cables, which has made all the outsourcing (customer service, etc) from the US to India – and other countries – possible.
A very good strategic decision, on their part, to protect the backbone (achilles heel) of their operations.
Nice of Tyco to drop the price for them. 🙁
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