Lytus Technologies Holdings PTV Ltd., a Nasdaq-listed firm, has acquired Sri Sai Cable and Broadband Private Ltd., a leading regional Multi Service Operator (MSO) based in Telangana.
“By acquiring a 51 per cent stake in Sri Sai Cable and Broadband Private Limited, with a subscriber base of over one million, we aim at expanding its footprint in India,” a Lytus Tech statement said on Wednesday.
“The acquisition will expand our reach in the Telangana region with a customer base extending into Andhra Pradesh, Maharashtra, and Kerala,” it said.
It said the Hyderabad-based MSO has over 40 per cent market share in their dedicated network area, with a network of over 6,500 local cable operators.
Specialising in telecast and multicast services, Lytus Technologies offers monthly subscription-based linear television and Internet services to both retail and business clients.
“The recent acquisition of Sri Sai Cable will enable 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,” Dharmesh Pandya, CEO of Lytus Technologies, said.
“India is our primary market for IPTV services, and this year, we are launching IPTV and Internet services, positioning ourselves for revenue growth. Additionally, we are in the process of revising rates in accordance with the New Tariff Order,” he added.
Lytus Tech has operations in Mumbai, Hyderabad, Kolkata, New Delhi, and Allahabad markets. It offers access to over 450 linear/HD channels from various content sources such as Star TV (Disney), Zee TV and Sony.