Companies

NXTDIGITAL board approves sale of digital, media businesses to Hinduja Global Solutions

BL Mumbai Bureau | Updated on: Jan 15, 2022
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NXTDIGITAL is the media vertical of the Hinduja Group.

The board of NXTDIGITAL Limited (NDL) has given in-principle approval for its digital and media businesses comprising broadband, HITS, digital cable television, content syndication and teleshopping to be acquired by Hinduja Global Solutions Limited (HGSL).

NXTDIGITAL is the media vertical of the global Hinduja Group.

The proposed acquisition will result in shareholders of NDL receiving shares of HGS as per share swap valuation and shall be subject to all applicable regulatory approvals. The Company will appoint independent valuers to carry out the valuation exercise and submit the report including share exchange ratio; besides also appointing other key intermediaries to facilitate the proposed move.

“This move will provide much-needed synergies, by leveraging the inherent expertise of HGS in the digital back-office and processes space, while allowing the media business to focus on digital expansion. This is in line with NDL’s vision and mission of being a significant digital platforms company, harnessing the best of emerging technologies, whilst expanding its portfolio of digital solutions across geographies.” NXTDIGITAL said in a statement. 

NXTDIGITAL

NXTDIGITAL delivers television services through a dual delivery platform consisting of digital cable and the country’s only Headend-In-The-Sky (HITS) satellite platform, under the brand names INDigital and NXTDIGITAL respectively. The Company’s Digital Cable television platform delivers 700+ channels across 100+ cities and towns whilst the HITS service is available in more in over 1500 cities and towns covering more than 4500 Pin Codes.

The HITS platform also provides infrastructure sharing services to Multi-System Operators (MSOs); providing them with a highly cost-effective way to deliver their services via satellite at a significantly improved level of quality of service

Published on January 15, 2022

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