Zee Aquires 26 Per Cent Inaplab

Media and entertainment major Zee Telefilms has acquired 26 per cent stake in Aplab Ltd, an electronic equipment maker, for Rs 11.7 crore. The deal has been done through preferential allotment by Aplab at Rs 90 per share.

The main benefits of the acquisition will be to Siti Cable, a subsidiary of Zee Telefilms.

These include synergies being derived by Siti Cable through hardware and software technologies of Aplab and the enhancement of the distribution of broadcast media, through its cable networks, with the help of Aplab's advanced hardware products such as smart card applications, set-top boxes, etc.

The business products of Aplab will add to the emerging convergence business in which Siti Cable will be a leading player in India, said a company statement.

 

The manufacturing facilities of the former is further expected to be strengthened through technology support of hardware products to capitalise the bandwidth capabilities of distribution of cable networks.