The Tata Group is making news all around. This time, another group company VSNL, an international long distance telecom major, is reportedly planning a bid for US-based Data Return, which is into managed hosting services and IT operations. The deal size is estimated to be around $90-100 mn. Data Return is a privately-held entity, of which 80% is owned by an investment firm Saratoga Partners and the rest being held by the management. It primarily caters to the North American market and has a headcount of around 250.
Data Return registered revenues of $51.1 mn for the 2005 fiscal and had a net loss of $8.5 mn, with valuation of the company pegged at $85-95 mn. The auction process for the proposed sale has evinced interest from two other bidders.
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