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.