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ACT’s revenue goes past Rs 2,000 Cr in FY22, profit shrinks
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ACT’s revenue goes past Rs 2,000 Cr in FY22, profit shrinks
18 April 2023
Partners Group was set to acquire high-speed fiber-optic broadband provider Atria Convergence Technologies (ACT) in a deal worth $1.2 billion. However, the private market fund, which is an existing investor in the firm, walked out of the deal. The fallout of the deal has had an impact on its top and bottom line. ACT’s growth of scale during FY22 was just shy of venturing into double digits, whereas its profit declined by over 14%.
Partners Group was set to acquire high-speed fiber-optic broadband provider Atria Convergence Technologies (ACT) in a deal worth $1.2 billion. However, the private market fund, which is an existing investor in the firm, walked out of the deal. The fallout of the deal has had an impact on its top and bottom line. ACT’s growth of scale during FY22 was just shy of venturing into double digits, whereas its profit declined by over 14%.
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