SAR Televenture Limited announced last week its acquisition of India's Tikona Infinet Private Limited (Tikona). SAR Televenture Limited and Tikona Infinet Private Limited have entered into definitive agreements, under which SAR Televenture Limited will acquire a 91 percent stake in Tikona Infinet Private Limited for a total consideration of Rs 669.04 crore, comprising a mix of cash and share swap.
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Tikona's Market Presence
Upon the closure of the transaction, Tikona will become a subsidiary of SAR Televenture, with Tikona's shareholders joining at the combined group level of SAR Televenture Limited, the official release said.
Established in 2008, Tikona Infinet Private Limited operates in over 300 cities and provides high-speed internet and data services to residential, commercial, and enterprise customers across India. Tikona offers a range of services, including wireless broadband, fiber-to-the-home (FTTH), and enterprise solutions. For FY 2024, Tikona registered sales of Rs 192.86 crore.
Industry Verticals Served by Tikona
Tikona also provides connectivity services and solutions critical to various industries and sectors, including e-commerce and digital payments, banking and financial services, healthcare and education, defense, and media and entertainment.
According to the official release, some of Tikona's marquee clients include HDFC Bank, ICICI Bank, Axis Bank, NSE, BSE, Ujjivan Bank, Indigo Airlines, SpiceJet, All Cargo Logistics, IDFC First Bank, Tata Communications, Cipla, and thousands of SMB customers.
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Operational Synergies and Resource Optimisation
With the combination of Tikona and SAR Televenture, the SAR group aims to broaden its capabilities, leveraging Tikona's expertise to provide a more comprehensive suite of services to its clients.
Additionally, by combining resources and optimising workflows, SAR Televenture anticipates improved operational performance. SAR Televenture intends to unlock value from Tikona's 7,500+ towers/small cells in highly dense urban markets, along with SAR's passive infrastructure.
