New Delhi, Jan 18 (Agencies): Subsidiary of enterprise communication service provider, Tulip Telecom has acquired Data Center facility in Bengaluru from SADA IT Parks Pvt Ltd (SADA) for Rs 230 crore on Tuesday. It would further invest Rs 670 crore to upgrade it.
Tulip Telecom's arm Tulip Data Center Services Private Limited (Tulip Data Center) has bought 100 per cent shares of SADA, which owns the Data Center facility in Bengaluru, for Rs 230 crore.
Besides, the company will undertake investments of another Rs 670 crore in next three years to upgrade the facility, the company said.
"The company has made Rs 230 crore as the upfront payment, which will come from Tulip's balance sheet, while about Rs 270 crore will be generated from the Data Center revenues, and about Rs 400 will come from external funding for which we are in discussion with strategic investors," Tulip Telecom CEO Sanjay Jain said.
The Data Center, spread over 900,000 sq ft is the world's third largest of its kind, the other two being in the US.
Jain said the company is looking at serving both domestic and overseas customers through this data centre, Jain added.
This is Tulip's fifth Data Center, with the company already operating four data centers--- 2 in Mumbai, and 1 each in Delhi and Bengaluru.
Jain said the Data Center will have a revenue generation potential of Rs 1000 crore when it reaches its peak capacity in the next three years.