US-listed semiconductor company Intel’s corporate venturing division has bought warrants in India-based Allied Digital Services that can convert to 3% of the information technology infrastructure services provider.
Sudheer Kuppam, managing director of Intel Capital Asia Pacific, said: "The enterprise remote infrastructure management segment is positioned for tremendous growth over the next several years. Allied Digital is one of the technology leaders in this space."
Allied Digital, through its US subsidiary, has been using Intel’s Core vPro Processors in its remote access and automated services.
Nitin Shah, chairman and managing director of Allied, in an interview with news provider Economic Times of India, said: "This is a strategic tie-up under which Intel Capital will be investing R32-crore [$7.1m] to subscribe to warrants which can be converted into equity in up to 18 months."
Once converted into equity, Intel Capital will hold close to 3% in the company, he added in the Economic Times interview.