Singapore Technologies Telemedia (STT) is set to acquire 74 percent stake in Tata Communications' data centres’ business that is primarily located in India and Singapore, for Rs 3,330 crore (USD 497 million).
Tata Group will retain a minority stake in the company.
Data centre operations of the Tatas are spread across 44 locations in India and abroad including the US, the UK and Singapore, covering more than 1 million sq ft of space, offering managed hosting and storage services.
In India, it has facilities in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Pune and elsewhere.
STT is an investment unit of Temasek Holdings.