TTK group plans to acquire Bharatplanet.com, a portal which offers communication and healthcare services to non- resident Indians (NRIs). As per the deal, the portal would be merged with TTK NRI Services while the tech services divisions would continue to function independently.
Bharatplanet.com, funded an angel investor from UK, has two divisions - the portal and a technology services division. It is expected that the buy-out would be done through a stock deal. In the merged entity, the promoters of Bharatplanet would have a minority stake.
The fresh funds would be utilised to set up the new company’s marketing arm in the US and Europe. P Sunder, marketing director of Bharatplanet, is expected to head the operations at the new entity. The present CEO T Chandramohan would head the technology business however he would also be on the board of the new company.