ADN Telecom to acquire 60 per cent of SOS Developments for Tk 2 crore 

ADN Telecom today says it is going to acquire 60 per cent of SOS Developments Ltd at an investment of Tk 2 crore. 

In a filing on the Dhaka Stock Exchange today, the telecommunication company has informed that its board has approved the draft share transfer agreement to acquire the share.
ADN says the investment would come from its own source of funds. 

ADN Telecom is an internet service provider, multiprotocol label switching, international private leased circuit, and internet protocol telephony service provider.

SOS Developments is a private limited company and its nature of business is providing fire security solution services. It has entered into a "Fire Service Welfare Trust", a joint venture agreement for providing fire security solution services with an innovative device with its own systems called "Instant Response System" as a fire guard. 

The tenure of the agreement is 10 years, with expected revenue of more than Tk 50 crore per year, said the filing.