Mumbai, 17 May ‘23

Lytus Technologies acquires majority stake in Sri Sai Cable and Broadband

Lytus Technologies Holdings Private Limited

Lytus Technologies acquires majority stake in Sri Sai Cable and Broadband

Lytus Technologies Holdings PTV Ltd., a global technology-driven services company, has acquired Sri Sai Cable and Broadband Pvt Ltd., a regional multi service operator (MSO) based in Telangana. The move signifies Lytus Technologies‘ commitment to establish a strong presence in the Indian market, the company said in a statement.

By acquiring a 51% stake in Sri Sai Cable and Broadband Pvt Ltd, which has a subscriber base of over 1 million, Lytus Technologies aims to expand its footprint in India in line with its strategic growth plans.

The move is expected to significantly bolster Lytus Technologies‘ reach in the Telangana region with a customer base extending into Andhra Pradesh, Maharashtra, and Kerala. As an independent MSO in Telangana, Sri Sai Cable will enable Lytus to enhance its service offerings and expand its presence in the region. With more than 40% market share in their network area, Sri Sai Cable and Broadband hosts over 6,500 local cable operators whose current consumers will benefit from enhanced technology, resulting in a better viewing experience as a result of the acquisition.

Specializing in telecast and multicast services, Lytus Technologies offers monthly subscription-based linear television and Internet services to both retail and business clients. The company’s network infrastructure spans over a 5,000-kilometer deployed network, providing fiber and broadband services.

“Since our inception, Lytus Technologies has been committed to providing diverse entertainment options to the Indian audience. The recent acquisition of Sri Sai Cable and Broadband Pvt Ltd 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. 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," Dharmesh Pandya, CEO, Lytus Technologies said in a statement.

“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," Pandya added.

Srinivas Palle, CEO, Sri Sai Cable and Broadband Pvt Ltd said Indian customers are now evolving and are keen to receive high-quality services. “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," Palle said in a statement.