Telecom equipment manufacturer Shyam Group today said it has entered into an agreement with Russian IT firm JCS Sitronics, a subsidiary of Sistema, for distribution and marketing their products in various markets.
JSC Sitronics and Shyam Networks Ltd (SNL), a Shyam Group company, has signed a memorandum of understanding to enter into a business relationship for the sales, distribution and support of the company's product in India, Russia, CIS and other markets, SNL said in a statement.
"This MoU represents the growing ties between India and Russia in the field of high tech. Both Shyam Networks and Sitronics will leverage each other's unique position and understanding across various geographies to market a range of telecom products," Shyam Networks CEO Ravi Ailawadhi said.
The deal includes a wide range of equipment and solutions for IP network products, homeland security and surveillance, smart cards and microchips, data centres and GPS, he said.
Sitronics would use the end to end capabilities of Shyam Networks to implement projects in both Russia and India.
"Our latest expertise in cutting edge microchip technology and extensive R&D will be made available to the Shyam Group as a part of this agreement," Sitronics President and CEO Sergey Aslanian said.
JSC Sitronics operates in the field of telecommunications solutions, information technologies, system integration and manufacture of microelectronics products.
"We find a synergy in our vision for the future in addressing the needs of high tech solutions in telecommunications sector in India and across the world. This MoU marks a new chapter in collaboration between our two countries," Aslanian added.