Zee Telefilms has made another big move to consolidate its position of strength in the convergence business. The company is picking up a 26 per cent stake in Mumbai-based Aplab Ltd, a hardware business company which uses software technologies.

The stake is picked up through preferential allotment of 1.32 million fully paid-up equity shares by Aplab at Rs 90 per share aggregating to Rs 11.7 crore. Zee Telefilms Ltd President-corporate Rajesh Jain said that the main objective of acquiring the stake in Aplab was to get synergies from the various products to broaden the cable network business. 

Siti cable, a subsidiary of Zee Telefilms is expected to be the main beneficiary of this acquisition by deriving synergies through hardware and software technologies of Aplab and the enhancement of broadcast media through its cable networks with the help of Aplab's advanced hardware products like smart-card applications, set-top boxes, etc. 

This will be a major plus for Zee and Siti cable which is aiming to be a big player at the national level.