Summary:
BENGALURU, India, March 31, 2022 /PRNewswire/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced that it has signed definitive agreements to acquire 64.40% of shares of Saankhya Labs Private Ltd.
Bangalore ("Saankhya") for INR 283.94 Cr in cash.
The initial acquisition of Saankhya shares is expected to close within the next 90 days.
Tejas Networks, upon procuring all necessary consents and approvals, also intends to proceed with acquiring the balance 35.60% shares through a merger process or a secondary acquisition.
Saankhya was founded in 2007 by technology entrepreneurs with global experience and has developed a wide range of system and semiconductor products for cellular Wireless, Broadcast radios and Satellite communication ground-terminal, which are deployed by customers in India and in international markets.
With a rich IPR portfolio and 73 international patents (41 granted, 32 filed), Saankhya is a pioneer in building software defined radios (SDR), powered by its own SDR chipsets.