Partners Group to acquire Atria Convergence for enterprise value of $1.2 bn

Swiss private equity firm Partners Group on Saturday said it will acquire a controlling stake on behalf of its client in broadband service provider Atria Convergence Technologies (ACT).

The stake will be bought at an enterprise value of nearly USD 1.2 billion (around Rs 8,900 crore), Partners Group said in a statement.

Partners Group, a joint investor in ACT since 2016, will buy the stake from Argan (Mauritius) and TA Associates.

With over 7,000 employees, Bengaluru-based ACT is a multi-service operator offering a package of internet, TV, data, and other broadband services.

ACT serves around 2 million wired broadband subscribers across 19 cities in India and has one of the largest optical fiber networks in the country, capable of delivering connection speed of up to 1 Gbps, the statement said.