Tulip IT Services, a New Delhi-based data communication and software services firm, having raised $150 million via foreign convertible currency bonds (FCCB), has earmarked around $40 million (Rs 160 crore) for a acquisition.
It plans to acquire a company in the US having managed services capability.
Further, the company has set aside $60 million (around Rs 240 crore) for expanding its network, around $20 million (Rs 80 crore) for setting up data centres and an equal amount will be invested in the statewide area networks (SWAN) project.
Tulip is setting up data centres in Mumbai, Bangalore, Chennai and Hyderabad. The first, in Delhi, is already operating.
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