Tata Group's firm Tejas Networks has signed definitive agreements to acquire 64.40% of shares of Saankhya Labs.
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. Saankhya has a strong technology team of more than 250 engineers, with deep expertise in wireless communication systems and fabless-semiconductor design.
Sanjay Nayak, CEO & MD of Tejas Networks
We are committed to our vision to create a global telecom equipment company from India, which will provide an end-to-end stack of world-class products and solutions based on latest technologies and customer requirements. This acquisition shows our continued commitment to expand our wireless product offerings to address the growing market opportunity. Saankhya's products would complement our existing 4G/5G Radio Access Network (RAN) products and positions us well for the emerging opportunities in the O-RAN and 5G Broadcast space. We are excited to welcome the highly talented and experienced team of Saankhya and the intellect and domain expertise they bring for wireless as well as semiconductor design.
Parag Naik, Co-founder and CEO of Saankhya Labs
We are delighted to become a part of Tejas Networks, which is India's leading telecom equipment company. Being part of Tejas Networks gives us a strong platform to scale up the business for our wireless products and technologies in India as well as in to international markets. Our customers and partners will also benefit from a larger product portfolio and an accelerated roadmap of our products.
