Atria Convergence Technologies Receives $500M Investment

Atria Convergence Technologies Pvt. Ltd. (ACT), a Bangalore, India-based provider of high-speed broadband services in India, received an approximately USD $500m investment.

TA Associates and Argan (Mauritius), a company controlled by Indium V, signed a definitive agreement to acquire shares of incumbent shareholders including India Value Fund III (sole trustee of IVF Trustee Company Private Limited), the current majority shareholder of ACT, which will be divesting a significant portion of their shareholdings. India Value Fund Advisors (IVFA) is an advisor to Indium V and a manager of India Value Fund III.

The transaction is expected to close subject to customary closing conditions, including the receipt of required regulatory approvals. Dhiraj Poddar, Co-Head of India at TA Associates Advisory Pvt. Ltd., and Naveen A. Wadhera, Co-Head of Asia at TA Associates Asia Pacific Ltd., will join ACT’s Board of Directors at the close of the investment.

Led by Bala Malladi, CEO, and Sunder Raju, Managing Director and founder, Atria Convergence Technologies is a broadband information, entertainment and communications provider. ACT and its group companies serve more than one million retail customers, offering wired broadband and cable TV services in South India, across Telangana, Karnataka, Andhra Pradesh and Tamil Nadu.







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