Partners Group Withdraws Plans To Acquire A Controlling Stake In Atria Convergence Technologies

Partners Group, a Switzerland-headquartered private equity firm, has withdrawn plans to acquire a controlling stake in Atria Convergence Technologies, known as ACT. In August 2021, Partners Group had proposed to buy the holding in ACT from Argan (Mauritius) and TA Associates. Partners Group has been a joint investor in ACT with Argan and TA Associates since 2016. Argan had proposed to sell its entire ACT holdings to Partners Group, while TA Associates planned to sell part of its equity in the company. The deal value for the proposed acquisition was pegged over $900 million, on an original valuation of nearly $1.2 billion for the firm. ACT serves fiber-optic broadband to over two million customers in India.#ETNow #ACT #partnersgroup