Liquidity Events
Tata group's Tejas Networks buys 62.65% in Saankhya Labs for Rs.276-Cr
Publicly listed, Tata Group's telecom equipment maker Tejas Networks Ltd has bought a 62.65% stake in fellow Bengaluru-based Saankhya Labs - which is focused on wireless technology and semiconductor solutions - for INR 276.24 crore. As part of the initial transaction, Tejas has acquired 60,81,946 shares through a secondary purchase at INR 454.19 per equity share. Tejas Networks also intends to acquire the balance shares over a period of time. The acquisition is expected to enhance Tejas Networks' wireless offerings by adding 5G ORAN, 5G Cellular Broadcast and Satellite communication products to its portfolio besides adding customers.
From the Venture Intelligence PE-VC Deal Database: In Mar-2011, Saankhya Labs had raised over USD 33 M from Intel Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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