Dialog Axiata PLC has reached an agreement to acquire full ownership of Sri Lanka’s largest reseller of Microsoft enterprise solutions (MSFT) , H one from Hirdaramani Group.
“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,” the company announced yesterday.
Dialog, CEO, Supun Weerasinghe said that the acquisition would supplement Dialog’s expansive suite of enterprise solutions and would facilitate the acceleration of the digital transformation of Sri Lanka’s Enterprise Sector.
The transaction was the first digitally executed transaction in a Post-COVID M&A space. Capital Alliance (CAL) acted as the financial advisor to the Hirdaramani Group in the sale of H One (Pvt) Ltd to Dialog Broadband Networks (Pvt) Ltd.
“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. Hirdaramani Group will support H One’s progress, as one of the largest users of Microsoft technologies in Sri Lanka, while focusing on our own digital transformation journey in the years to come” Hirdaramani Group, Managing Director, Ranil Pathirana said.
H One was founded in 2008, as a digital solutions and strategies provider of the Hirdaramani Group.
H One delivers innovative digital transformation solutions for businesses in the region and their clientele ranges from medium scale businesses to large conglomerates.
As a premier cloud deployment partner and regional consultant to Microsoft Services, H One specializes in complex migrations and the adoption of global best practices. H One has also maintained a consistent track record as Microsoft’s No.1 Partner in Sri Lanka, earning recognition for excellence in performance and service over the years.