New Delhi, Apr 2 (PTI) Telecom infrastructure company SAR Televenture on Wednesday said its board has approved the acquisition of a majority stake in Tikona Infinet for Rs 578 crore through a share swap arrangement.

The acquisition paves SAR Televenture's entry into the enterprise broadband segment.

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"SAR Televenture Limited board has approved the share swap for acquisition of a majority stake in Tikona Infinet Limited for a total consideration of Rs 578 crore," a statement said.

Tikona has pan-India unified licence and national long distance (NLD) licence which allow it to offer broadband, lease line, virtual private networks (VPNs) and other communication services.

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"This acquisition allows us to expand our service portfolio and provide customers with a wider range of services, including high-speed broadband, fibre-optic connectivity, and advanced 4G and 5G network solutions," Rahul Sahdev, Managing Director, SAR Televenture, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)