Nasdaq-listed Lytus acquires 51% in Telangana MSO

Nasdaq-listed Lytus Technologies Holdings has acquired a 51% stake in Telangana-based cable TV and broadband player Sri Sai Cable and Broadband at an enterprise valuation of $25–30 million, said Lytus Technologies CEO Dharmesh Pandya.
He added that the acquisition of Sri Sai Cable and Broadband will enable the company to expand its 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.

"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," he added.

Pandya said that Sri Sai Cable is in the process of revising its rates in accordance with the New Tariff Order (NTO) 3.0 to offer better value to customers. Sri Sai Cable and Broadband has a subscriber base of over 1 million.

Sri Sai Cable and Broadband CEO Srinivas Palle said the company's partnership with Lytus Technologies will help it expand its 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," he added.

Lytus has a consumer base across major Indian cities like Mumbai, Hyderabad, Kolkata, New Delhi, and Allahabad. It provides access to over 450 linear SD/HD channels from Disney Star, Zee Entertainment Enterprises, Sony Pictures Networks India, Times Network, and Warner Bros. Discovery.

To expand its reach in the market, the company said it is actively engaged in strategic alliances with numerous major global corporations.

Sri Sai Cable and Broadband has a market share of over 40% in its dedicated network area. The cable TV company caters to a network of over 6,500 local cable operators (LCOs), who have the last mile connectivity to consumer homes.

Established in 2017, Lytus offers high-value streaming and telemedicine services to over 4 million active users and monthly customers across India and the USA.

The company delivers fibre and broadband services to its clients through a 5,000-kilometre network of installed fibre and broadband infrastructure. The company has expanded its India presence through its Telecast and Multicast (IPTV) services.