Rashi Peripherals Ltd. announced on Wednesday that it will acquire a 70% stake in Satcom Infotech Pvt Ltd., a cybersecurity solution distributor. This follows the company's Monday exchange filing, which revealed that its board had approved an investment of up to Rs 14 crore for the acquisition of equity shares in Satcom Infotech.
In the filing, the company had stated that it will execute a share purchase agreement with the promoters/shareholders of Satcom Infotech for acquisition of the shares.
Rashi Peripherals, also known as RP Tech, had also added that after the acquisition — which would be done within three months — Satcom Infotech would become its subsidiary.
The purpose behind the acquisition was also revealed. “RP Tech aims to leverage Satcom's established expertise in the cybersecurity domain to introduce new brands and forge impactful partnerships,” the company's statement explained.
"With this strategic investment, RP Tech aims to leverage Satcom's established expertise in the cybersecurity domain to introduce new brands and forge impactful partnerships," it added.
“This proposed acquisition is a defining moment for RP Tech as we expand our offerings into the high-growth cybersecurity sector,” said Kapal Pansari, managing director at RP Tech. "We are excited about the opportunities this partnership brings and look forward to creating a strong business impact," he added.
Satcom is expected to benefit from the deal in a number of ways. It added that Rashi Peripherals' robust financial capabilities and extensive geographical reach will enable the company to scale its operations and enhance its service delivery across India.
“This proposed acquisition is a transformative move for Satcom Infotech, reinforcing our mission to deliver advanced technology solutions to a broader market,” said Vinod Kumar Chief Executive Officer at Satcom Infotech.
He also added another benefit to be derived from the acquisition by RP Tech. “Strong financial foundation will enable us to scale our operations swiftly, invest in new initiatives, and deliver greater value to our partners and customers,” Kumar said.
Rashi Peripherals' logistical strength and trusted channel partnerships too will boost Satcom's fortunes, Kumar indicated and said it will “accelerate market penetration, improve delivery timelines, and provide exceptional support to our stakeholders”.
Shares of Rashi Peripherals Ltd. closed 2.17% higher at Rs 372.45 apiece on the BSE, compared to a 0.29% advance in the benchmark Sensex.
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