NEW DELHI, FEB 20: HCL Comnet Systems and Services, a wholly owned subsidiary of HCL Technologies, would soon acquire Indian and international networking companies focussing on security or communication services, a senior company official said."We would be looking at those companies which offer a value-addition to our current services and are in the process of shortlisting those companies," Vineet Nayar, President of HCL Comnet said.Nayar said HCL Comnet would be acquiring companies which either offer a broad client access or geographic expansion base to HCL."We would also acquire those companies which compliment our core business area," he said.Nayar, however, refused to disclose the size of funds earmarked for the acquisition or the names of the companies shortlisted.The acquisition would be handled by the parent company HCL technologies, he said adding that a team of six members has been formed within the company to oversee the process."The team is in the process of identifying suchcompanies and we would like to close the deals soon," he added.HCL technologies had recently raised about Rs. 750 crorefrom the equity market, part of which would fund the acquisitions.Nayar said HCL comnet has embarked on a restructuringexercise to focus on the emerging markets like E-commerce and would launch a new range of services `secure E-commerce' in the market."The new services would be announced for both domesticand international market on February 21. Under the new initiative the company has refocused its networking services to keep up with the demands of an E-commerce market, nayar said.He said the company's new services include comnet@quickstart, comnet@trouble free, comnet@internet access, comnet@secure, comnet@commerce application and comnet@awam.
