However, as of 2021, SmartCity houses 50 companies, including Fortune 500 firms such as Baker Hughes and Ernst & Young, and employs close to 5,000 professionals.Rajeeve said TECOM failed to deliver what it promised. "They didn't utilise the land to develop the infrastructure facilities as promised. The state government will be holding discussions with the firm to arrive at a formula regarding exit plans. As for the equity the company holds, a decision as to whether the state government will take it over or look into other options too will be taken after the talks," he said.The government's decision has come as a silver lining for Infopark, which is looking for land to expand. As per sources in the IT department, very few agencies are capable of taking over TECOM's equity. Infopark's name is doing the rounds among the list of these agencies.

TECOM failed to deliver on its promises: Min

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.