Sri Lanka’s Dialog Axiata PLC (“Dialog”), Sri Lanka’s premier converged connectivity provider, announced yesterday (23) that it had entered into an agreement to acquire 100% shareholding in H One (Private) Limited. This acquisition has been completed through Dialog Broadband Network (Private) Limited (“DBN”), a fully owned subsidiary of Dialog.
H One founded in 2008 as a subsidiary of Hirdaramani Group, is the largest reseller of Microsoft (MSFT) enterprise solutions in Sri Lanka with an annual turnover of circa LKR 1.6 Billion.
The transaction is expected to be completed before end of January 2021, at a Purchase Consideration of between LKR 300 million to LKR 350 million on a cash free debt free basis.
“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 Supun Weerasinghe, Group Chief Executive of Dialog Axiata said.
“H One is the leading Microsoft services provider in Sri Lanka delivering innovative solutions to many top corporates in the country. We are confident that Dialog will continue to drive the consistent growth and innovation that has been a huge part of the company’s success to date," he added.