The Hindu Business Line : Midas, Banyan merge

CHENNAI: Midas Communications and Banyan Networks Ltd, both part of Telecom and Networks Group (TeNeT) at IIT Madras, are to be merged. While Midas focuses on designing telecom systems with emphasis on wireless technology, its sister firm, Banyan Networks, works in convergent areas of telecom and computer networking.

Dr Ashok Jhunjunwala of TeNeT group confirming the merger said, "Yes, the process is on." Meanwhile, media reports say that post-merger the business turnover of merged entity would be over $50 million.

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