New Delhi: Enterprise communication service provider Tulip Telecom today said its subsidiary has bought the data centre facility in Bengaluru from SADA IT Parks Pvt Ltd (SADA) for Rs230 crore and would further invest Rs670 crore to upgrade it, reports PTI.
Tulip Telecom's arm Tulip Data Center Services Private Limited (Tulip Data Center) has bought 100% shares of SADA, which owns the data centre facility in Bengaluru, for Rs230 crore.
Besides, the company will undertake investments of another Rs670 crore in next three years to upgrade the facility, the company said.
"The company has made Rs230 crore as the upfront payment, which will come from Tulip's balance sheet, while about Rs270 crore will be generated from the data centre revenues, and about Rs400 will come from external funding for which we are in discussion with strategic investors," Tulip Telecom CEO Sanjay Jain told PTI.
The data centre, spread over 900,000 sq ft is the world's third largest of its kind, the other two being in the US.
Mr Jain said the company is looking at serving both domestic and overseas customers through this data centre.
This is Tulip's fifth data centre, with the company already operating four data centres-two in Mumbai, and one each in Delhi and Bengaluru.
Mr Jain said the data centre will have a revenue generation potential of Rs1000 crore when it reaches its peak capacity in the next three years.
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