Dialog Axiata PLC yesterday said it completed a deal to acquire 100 percent shareholding of H One (Private) Limited, through Dialog Broadband Network (Private) Limited (DBN), a fully-owned subsidiary of Dialog.
The deal was announced to the Colombo Stock Exchange on December 23, 2020.
Although Dialog Axiata in its market filing did not disclose the exact size of the investment, its December 23 filing mentioned a purchase consideration of between Rs.300-350 million, on a cash-free, debt-free basis.
H One, founded in 2008 as a subsidiary of the Hirdaramani group, is the largest reseller of Microsoft enterprise solutions in Sri Lanka, with an annual turnover of approximately Rs.1.6 billion.
“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,” Dialog Axiata Group CEO Supun Weerasinghe said.
“The combine 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,” he added.
H One is the leading Microsoft services provider in Sri Lanka, delivering innovative solutions to many top corporates in the country.
