Tejas Networks has decided to acquire 64.40 per cent stake in semiconductor firm Saankhya Labs for Rs 283.94 crore in an all-cash deal. The initial acquisition of Saankhya shares is expected to close within the next 90 days. Acquisition of Saankhya is in line with Tata Group's interest to foray in semiconductor business.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities.
