British Telecom (BT), through BT Singapore, is reportedly acquiring Singapore-based IT services firm Frontline Technologies Corporation (FTC) for $139.8 million.

British Telecom (BT), through BT Singapore, is reportedly acquiring Singapore-based IT services firm Frontline Technologies Corporation (FTC) for $139.8 million. Concurrently, FTC is buying a 9 per cent stake in Chennai-based IT company Accel Frontline from an Indian promoter. After the completion of the two transactions, Accel Frontline will become a wholly owned subsidiary of BT with 51 per cent owned by the UK-based company. Presently, the Chennai-based IT company is 42 per cent owned by FTC, 30 per cent by the Indian promoter Accel Limited, and the remaining stake is with the public.