Lytus Technologies acquires majority stake in SSC

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The acquisition of Sri Sai Cable is expected to bolster Lytus Technologies’ reach in the Telangana region Lytus Technologies Holdings PTV Ltd has recently announced its acquisition of Sri Sai Cable and Broadband Private Ltd., a leading regional Multi Service Operator (MSO) based in Telangana, India.

This strategic move signifies Lytus Technologies’ commitment to establishing a strong presence in the Indian market.By acquiring a 51% stake in Sri Sai Cable and Broadband Private Limited, which boasts a subscriber base of over 1 million, Lytus Technologies aims to expand its footprint in India in line with its strategic growth plans. Lytus Technologies, established in 2017 by a visionary team of technology entrepreneurs, is a publicly listed company on the Nasdaq Capital Market under the ticker symbol “LYT”.The acquisition of Sri Sai Cable is expected to significantly bolster Lytus Technologies’ reach in the Telangana region with a customer base extending into Andhra Pradesh, Maharashtra, and Kerala. As the leading independent Multi Service Operators (MSOs) in Telangana, Sri Sai Cable will enable Lytus Technologies to enhance its service offerings and expand its presence in the region. With more than 40% market share in their dedicated network area, Sri Sai Cable and Broadband Private Limited boasts a flourishing network of over 6,500 local cable operators. As a result of Lytus Technologies’ acquisition of a majority stake in the company, current consumers of Sri Sai Cable will benefit from enhanced technology, resulting in a better viewing experience.Commenting on the acquisition of Sri Sai Cable and Broadband Private Limited, Dharmesh Pandya, CEO, Lytus Technologies said, “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 Private Limited 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. 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.

”Srinivas Palle, CEO, Sri Sai Cable and Broadband Private Limited said, “Indian customers are now evolving and are keen to receive high-quality services. Being one of Telangana’s major Multi Service Operators, we strive to cater to ever-changing consumer behavior. 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.”

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