Tanla completes Rs. 340-cr Karix acquisition.

Tanla Solutions, a BSE-listed cloud communications provider, has completed the acquisition of Karix Mobile Pvt Ltd. and its wholly-owned subsidiary Unicel Technologies from Banyan Investments for Rs. 340 crore. Banyan is owned by funds affiliated with GSO Capital Partners.

The deal includes Rs. 112 crore in cash and the preferential allotment of 2.2 crore equity shares in Tanla at a rate of Rs. 56.79 a share, totalling Rs. 125 crore. Besides, Tanla will assume the debt of Rs. 103 crore in Karix’s books.

“We are funding the acquisition using cash in our balance-sheet,” said Tanla CMD Uday Reddy.

Post acquisition, Tanla’s promoters will have a 31.2 per cent stake in Karix while GSO will hold 14.6 per cent.

HBL