Thursday, 24 December 2020 00:11 -
Purchase to cost Rs. 300-350 m, transaction to be completed before end Jan.
Dialog Axiata PLC yesterday said it had entered into an agreement to acquire 100% shareholding in H One Ltd., through Dialog Broadband Network Ltd., a fully-owned subsidiary of Dialog.
H One, founded in 2008 as a subsidiary of Hirdaramani Group, is the largest reseller of Microsoft (MSFT) enterprise solutions in Sri Lanka with an annual turnover circa Rs. 1.6 billion. The transaction is expected to be completed before end of January 2021, at a Purchase Consideration of between Rs. 300 million to Rs. 350 million on a cash-free, debt-free basis.