With a focus on growth, the board of directors of NXTDIGITAL Limited (NDL), at its meeting today, approved in principle the acquisition of its extensive digital and media businesses by Hinduja Global Solutions Limited (HGSL), subject to any statutory or regulatory terms shareholder approval and approval.
NDL, which has cemented its leadership position through innovative solutions and cutting-edge technology, has planned a significant expansion in the emerging digital solutions sector.
This move will provide much-needed synergies, leveraging HGS’s inherent expertise in the digital process and logistics space, and allowing the media business to focus on digital expansion. .
This aligns with NDL’s vision and mission to be a leading digital platform company that harnesses the best of emerging technologies while expanding its portfolio of digital solutions across the globe geographical areas.
The proposed acquisition will result in NDL shareholders receiving shares of HGS at the valuation of the share swap and will be subject to all applicable regulatory approvals.
The company shall appoint independent appraisers to carry out the valuation and submit reports including the stock swap report; in addition to specifying other important intermediaries to facilitate the proposed migration.
NDL is India’s leading integrated digital platform company and currently present over 4,500 PINs across India through a network of approximately 10,000 franchisees as well as over 50 owned and operated NXTHUBs, besides television, broadband and OTT, are ready for the future to provide emerging services such as Wi-Fi.
Its broadband business spans a network of more than 45 cities, providing high-speed Internet access and other services to the corporate and retail segments.
The company is considered a leader in digital content technology and distribution and recently launched a hybrid product that includes up to 700 digital TV channels plus 300,000 hours of content on OTT platforms primary and broadband access, with speeds up to 1,000 Mbps.
It is also the only platform allowed to share its HITS infrastructure with other multi-system operators (MSOs). NDL has established a long-term vision of creating shareholder value, underpinned by a dynamic and experienced management team as well as a strong corporate governance framework.
Following this proposed digital business acquisition, subject to regulatory and other approvals, various opportunities will be considered to identify new verticals for the future.