After offloading majority stake to the Hero Group, set-top box (STB) manufacturer Mybox Technologies has set an ambitious target of selling 1.5 million boxes in FY16. Hero has bought out electronics manufacturer Dixon Technologies’ stake in Mybox and a portion of Kharabanda family’s holding. The $5 billion Brijmohan Lall Munjal-led Group has become the majority owner of the company, while the Kharabandas still retain a minority stake. Mybox Technologies executive director Amit Kharabanda refused to divulge information about shareholding pattern of the company. “It’s a majority acquisition. Dixon Technologies, which was an equity partner, is out. Hero Group has bought out Dixon’s stake plus a little bit of our stake,” Kharabanda said.
Read more at: http://www.televisionpost.com/technology/hero-group-owned-mybox-tech-sets-ambitious-stb-manufacturing-target/ | TelevisionPost.com
Read more at: http://www.televisionpost.com/technology/hero-group-owned-mybox-tech-sets-ambitious-stb-manufacturing-target/ | TelevisionPost.com
