NXT Digital surges over 12 per cent post signing significant pact with SITI Networks
Hinduja Group’s, NXT Digital Limited has entered into a partnership with one of the largest multi-system operators (MSO) in the country i.e. SITI Networks Ltd for sharing its infrastructure facility via headend-in-the-sky (HITS) platform.
In its first-ever infrastructure sharing agreement in the MSO space in the country, NXT Digital Limited, which is India’s only HITS platform, has partnered with SITI Networks. This collaboration would help the two conventional competitors share infrastructure thereby, heralding a new era of collaboration in the digital platforms space.
SITI will leverage this infrastructure to provide higher uptime and quality of services to its rural and semi-urban customers while NXT will earn a service fee from SITI for sharing its pan-India satellite delivery infrastructure. Market for such PaaS i.e. platform-as-a-service is estimated to be roughly over 60 million customers, which are connected to around 1,000 MSOs that are currently facing challenges on costs & connectivity and want to improve their quality of services. Financially, this move will help SITI to control its connectivity costs and deliver quality uninterrupted services to its customers.
At the close of the market today, the share price of NXT Digital was trading 12.18 per cent higher at Rs 512.65.
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