The Board of Directors of Ramco Systems Limited, in its meeting held today, has approved the divestment of its 100% stake in its wholly owned subsidiary – Ramco Infotech Solutions Limited (RITS) to TVS Interconnect Systems Limited (TVSICS), a wholly owned subsidiary of T V Sundaram Iyengar and Sons Limited. The company had already entered into a non binding MoU with TVSICS. The closure of the transaction is subject to satisfactory due diligence, execution of definitive documents and other approvals and regulatory clearances.

The Secure Converged Networking division of Ramco Systems was spun off into its 100% subsidiary, RITS, with effect from 1st April 2006. Ramco Systems’ decision to divest its stake in the subsidiary would help it focus completely on its core business - developing next generation enterprise applications using its revolutionary business process platform.

RITS is a global Secure Convergence Provider that manages and optimizes network performance. RITS’s Secure Convergence Solutions form the basic building blocks of the Local and Campus wide Network Infrastructure that integrates diverse network applications like Data, Video and Voice. RITS has over a decade of expertise in implementing mission critical networks and is best positioned to address and meet the challenges of Secure Convergence.

TVSICS over the period has evolved as a trusted organisation for providing effective Network Infrastructure solutions in the Telecom, Government and Aviation Sectors . It is engaged in the business of providing wireless solutions, carrier solutions, project management services, networking solutions and manufacturing of telecom related equipment. In its pursuit for accelerated growth, the company is focusing on the Telecom Infrastructure business and Network Infrastructure Business .The Networking division in the last two years has built expertise to meet the requirement of the Aviation Industry, in building a back bone network for the airports. It has engaged itself in providing solutions to the Airport Community Network (ACN) for new upcoming airports and has emerged as a major Systems integrator. To complement its services in the telecom sector and tap the booming opportunity in the networking infrastructure space the Company’s acquisition of RITS provides a strategic fit to enhance its capability and expand its market reach . The acquisition would enable TVSICS to play a major role as a global level Systems integrator for the entire Passive and Active Infrastructure space in Partnership with world leaders in the Networking sector and to offer value added services and Remote Infrastructure Management as key components of TVSICS’s growth strategy.

About TVS Interconnect Systems Limited
TVS Interconnect Systems Limited forms part of the TVS Group established in 1911, with a group revenue of over $3 billion. The company has its manufacturing plant in Madurai, Corporate Office in Bangalore, and Regional marketing offices in Delhi, Mumbai, Chennai, Hyderabad and Pune. With a start towards manufacturing low end components like electronic connectors, RF (Radio frequency) connectors, cable assemblies, Fibre optic products & other accessories for telecommunication, consumer electronics & automobile industries, the company has transformed itself into providing solutions such as Wireless, Carrier, Enterprise and Project Management Services both in India & overseas. To add more to this, it was the 1st Indian company to brand its own RF cables.