Dialog Axiata PLC has entered into an agreement to acquire 100% shareholding in H One (Pvt.) Ltd., through Dialog Broadband Network (Pvt.) Ltd., a fully owned subsidiary of Dialog, the company announced yesterday (23).
“The acquisition of H One by Dialog would supplement Dialog’s expansive suite of enterprise solutions and would facilitate acceleration of the digital transformation of Sri Lanka’s enterprise sector. The combination of Dialog’s expertise in advanced digital technologies and the leading-edge capabilities of H One will create a centre of excellence for the scaling of Microsoft platforms and enterprise solutions,” stated Dialog Axiata PLC Group Chief Executive Supun Weerasinghe.
The transaction is expected to be completed before the end of January 2021, at a purchase consideration of between Rs. 300 million to Rs. 350 million on a cash free-debt free basis.
At present, H One is the largest reseller of Microsoft (MSFT) enterprise solutions in Sri Lanka and offers a wide range of services which include business analytics, cloud computing, Microsoft licensing, security, and digital advisory services among others. H One was founded in 2008 as a subsidiary of Hirdaramani Group and reports an annual turnover of circa Rs. 1.6 billion.
“It has been an exciting journey so far at H One. We’ve become the largest enterprise player in Sri Lanka for Microsoft Solutions and have partnered with many wonderful customers over the years. I am grateful to the Hirdaramani Board for the vision, trust, and support in scaling this business to where it is today. The team and I look forward to joining the Dialog family, where we hope to rapidly scale the business in the region whilst maintaining the close-knit customer-centricity and DNA that has made us an award-winning team,” said H Once Chief Executive Officer (CEO) Samath Fernando.
This acquisition by Dialog in light of H One’s experience in modern cloud solutions signals its intention to scale their digital infrastructure and ramp up their mobile telephony services, helping Sri Lanka step into the future.
Dialog to acquire H One by end January
24 Dec 2020
Dialog to acquire H One by end January
24 Dec 2020
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