Friday, July 1 2005 14:46 Hrs (IST) - World Time -

New Delhi: Tatas-owned Videsh Sanchar Nigam Limited (VSNL) today (July 1, 2005) completed the acquisition of undersea cable network company Tyco Global Network, a move that would provide VSNL more bandwidth for providing connectivity to carriers and other businesses like IT and BPO.

VSNL had acquired Tyco, for $130 million, which has over 60,000 km undersea cable network in of North America, Europe and Asia.

"This acquisition is another positive step in our ongoing drive to offer global connectivity and efficient communication solutions for our customers," N Srinath, Head of Operation, VSNL, said in a statement in New Delhi.

Day-to-day management responsibility of Tyco Global Network would be assigned to VSNL International, a division leading VSNL's expansion into e-global market.

"Our multinational clients require seamless connectivity around the globe and customised network architecture. The combination of TGN assets and the deep network penetration of VSNL throughout India will allow VSNL to design saleable connectivity solutions between all key global business centres through a single point of contact," Vinod Kumar, President, VSNL International, said.

Today's agreement, Srinath said, confirms VSNL's position as a leading global service provider. "It also positions the Tata Group as a leading entity that can provide seamless telecom and IT services under the single umbrella for global enterprises," he added.

The agreement culminates a nearly eight-month process that involved approval from regulatory bodies in US and other countries.