The Subroto Roy-controlled Sahara India group is tying up with the South Africa-based Sahara Computers to float a new hardware company, Sahara Computers and Electronics.
This will be the Lucknow-based conglomerate's maiden foray into information technology. The group has diverse interests such as para-banking, aviation, media, and housing and infrastructure.
Sahara Computers and Electronics will see equity participation from both the companies.
Company officials confirmed the development but declined to divulge the exact nature of the business and details of the venture. The joint venture will come under Sahara's information, communication and technology business division. The new company will be formally launched on September 10 in Lucknow.
Established in 1997, Sahara computers is primarily a computer component distributor and is owned by Sahara Holdings group.
The company has an annual turnover over rand 1.1 billion. It has 360 employees and its head office is situated in Midrand, Gauteng, and branches in Cape Town, Port Elizabeth, Durban and sub-Saharan Africa.