Posted by Hyderabad: Nasdaq-listed Lytus Technologies Holdings PTV Ltd., has acquired a 51% stake in Sri Sai Cable and Broadband Private Ltd., a regional multi-service operator (MSO) based in Telangana.
Through this acquisition, Lytus Technologies aims to expand its footprint in India as it is eyeing strategic growth as well. The acquisition is expected to significantly bolster Lytus Technologies’ reach in Telangana state with a customer base extending into Andhra Pradesh, Maharashtra and Kerala.
The regional MSO has a subscriber base of more than a million. With more than 40% market share, Sri Sai Cable and Broadband Private Limited (SSC BPL) boast a flourishing network of over 6,500 local cable operators.
Started in 2017, Lytus Technologies specialises in the telecast and multicast services, offering monthly subscription-based linear television and internet services to both retail and business clients. The company has a robust network infrastructure that spans over a 5000-kilometre deployed network.
“The recent acquisition of Sri Sai Cable and Broadband Private Limited enables us to expand our reach by offering cable and internet services not only to consumers in Telangana but also to their extended subscriber base in Andhra Pradesh, Maharashtra and Kerala,” said Dharmesh Pandya, CEO, Lytus Technologies.
“Through collaborative efforts, we will develop new technologies aimed at better serving our customer base. India is our primary market for IPTV services, and this year, we are launching IPTV and Internet services, positioning ourselves for revenue growth,” added Pandya.
Further, “Additionally, we are in the process of revising rates in accordance with the New Tariff Order, further enhancing our offerings and providing value to our customers,” he said.
“With our partnership with Lytus Technologies, we will continue to focus on client needs and expand our footprint in larger parts of India. We intend to maintain and improve our technology in order to gain a larger market share in our network locations,” said Srinivas Palle, CEO of Sri Sai Cable and Broadband Private Limited.