Partners Group, a private markets firm, has agreed, on behalf of its clients, to acquire Atria Convergence Technologies, a fiber-optic broadband operator, in a valued at $1.2 billion.
Partners Group, an investor in ACT since 2016, will acquire a controlling stake from Argan Mauritius and TA Associates.
Headquartered in Bangalore with over 7,000 employees, ACT serves around 2 million wired broadband subscribers across 19 cities in India and has one of the largest fiber networks in the country, capable of delivering connection speed of up to 1 Gbps.
Partners Group will work closely with ACT management and TA Associates, which will continue to hold a minority stake, on a value creation plan to support the company’s ongoing growth and contribution to the Digital India mission.
ACT is Partners Group’s third investment in the telecom space this year after Unity Digital, a telecom tower platform in the Philippines, and Eolo, Italy’s leading fixed wireless access broadband provider.
ACT Fibernet has been recognized as India’s most Consistent Broadband Network in 2020 by Ookla, Best Brands 2020 in the broadband category by The Economic Times, Best Broadband for Streaming in Hyderabad and Chennai as per research conducted by InMobi in Sept 2020, and No.1 Broadband for Gaming according to The Times of India Report, 2020.