Partners Group to acquire a majority stake in ACT from Argan and TA Associates at a $1.2bn valuation.

Partners Group, a private equity firm, agreed to acquire a majority stake in Atria Convergence Technologies, an Indian telecommunications company, from Argan (Mauritius) and TA Associates at a $1.2bn valuation. The transaction is subject to customary closing conditions, including clearance by the relevant merger control authorities. "ACT is on the frontline of digitization in India, providing fast, reliable broadband to millions of homes in the country. The company is an excellent opportunity for us to support the transformation of a growing business through expansion into new markets and development of new product offerings. As existing investors, we have followed ACT's journey for several years and have been impressed with Bala and his team's strategic vision, and their commitment to customer satisfaction, which converges with our focus on operational excellence," Manas Tandon, Partners Group Managing Director, Private Equity.