Key points to note –
- Acquisition is in two stages
- 1st stage – 64.40% for Rs 283.94 crore cash to be completed in 90 days
- 2nd stage – Balance 35.60% after 1st stage through merger or secondary purchase
- Founded in 2007 by technology entrepreneurs, SL has developed a range of system and semiconductor products for cellular wireless, broadcast radios and satellite communication ground-terminals. It supplies to both Indian and International customers.
- SL has 73 international patents (41 granted, 32 filed), and it is building software defined radios (SDR) powered by its own chipsets.
- SL reported revenues of Rs 73.22 crore during 9 months ended December 31, 2021. Profitability has not been disclosed.
“This acquisition shows our continued commitment to expand our wireless product offerings to address the growing market opportunity. Saankhya’s products would complement our existing 4G/5G Radio Access Network (RAN) products and position us well for the emerging opportunities in the O-RAN and 5G broadcast space,” Tejas Networks CEO and MD Sanjay Nayak said.
Tatas had acquired controlling stake in Tejas last year and the SL acquisition by Tejas is in line with Tata’s strategy to expand in telecom equipment and semi conductor business.