US-based Acacia Partners LP has invested Rs 10.85 crore for a 4.58% stake in India’s Net4 India Ltd. The investment was undertaken as an open market transaction. The investment was done in bulk deals Wednesday on the BSE and NSE, with Acacia Partners buying 1,80,000 shares, and Acacia Conservation Fund buying 180,000 shares, while Acacia Institutional Partners bought 360,000 shares.
The share purchase was done at 118.05 Indian rupees per share. Acacia Partners is an affiliate of Ruane, Cunniff & Goldfarb Inc, a US-based foreign institutional investor (FII). Ruane, Cunniff & Goldfarb has assets under management of over $14 billion and manages its trademark Sequoia Fund.
Some of its Indian portfolio companies include Radico Khaitan (6.38% stake), Vindhya Telelinks Ltd (6.83% stake) and Vadilal Industries (5.83% stake). Net4 India is a web domain and hosting service provider and its offerings include Enterprise Internet Services, Data Centre Solutions, VoIP Solutions, and Enterprise Messaging & Hosting Solutions.
Last year in August, company raised Rs.8 crore from Quilvest Group by diluting 3.46% stake in the company. The company allotted about 7 lakh shares at a price of 116 rupees per share (including premium of 106 rupees per share) to QS India Hosting on preferential basis. Net4 India had previously raised $3.19 million from Madison India Capital Advisors and $1.87 million from Granite Hill India Opportunities Fund.
Net4 is India’s leading Network and Application Services Provider. It is a NSE-listed business enterprise with consolidated revenues to the tune of Rs. 195 Crores (2009-10). Net4 focuses on providing services to businesses (small, medium and large) and its offerings include Enterprise Internet Services, Data Centre Solutions, VoIP Solutions, and Enterprise Messaging & Hosting Solutions.
Headquartered in Noida, Net4 has a PAN India presence with offices in 11 major business cities & an ever-growing clientele which includes 800 Corporate Data Center Customers, 2800 Business VoIP customers, 75,000 hosted websites, 870,000 corporate e-mail accounts & 250,000 registered domain names. Net4 is amongst the largest provider of hosted email, web hosting and domain name registration in the Asia-Pacific region.
The company’s client base includes the likes of CNBC TV18, Essar, Godrej, Hutch, ITC, L&T, Lufthansa, NIIT, ONGC, Proctor & Gamble, Reliance, Sahara, SBI, Siemens, TCS.
Net4 operates seven (7) state-of-the-art Internet Data Centers (IDCs) and 15 Network Points of Presence across the country, providing the highest possible levels of availability, scalability and security.