Walton moves to consolidate businesses thru’ Digi-Tech merger

Walton Hi-Tech Industries PLC shareholders have unanimously approved a merger with Walton Digi-Tech Industries Limited, creating a strategic consolidation of two major players in Bangladesh’s technology and electronics sector.

The approval came at an Extraordinary General Meeting (EGM) of Walton Hi-Tech, held virtually on Wednesday and presided over by Chairman S M Shamsul Alam.

Senior leadership, including Vice-Chairman S M Ashraful Alam, Managing Director S M Mahbubul Alam, and other directors and senior officials, along with a substantial number of institutional and general shareholders, participated in the EGM.

Deputy Managing Director and Company Secretary Md Rafiqul Islam, FCS, moderated the proceedings.
Walton Digi-Tech Chairman S M Rezaul Alam and Managing Director S M Monjurul Alam Ovee were also present.

Walton Hi-Tech Chairman S M Shamsul Alam underscored the merger’s strategic importance and its expected business impact in his address to shareholders.

He described Walton Hi-Tech as a compliance-driven, fundamentally strong, and investor-trusted listed entity, while Walton Digi-Tech focuses on ICT devices and accessories, including laptops, desktop computers, printers, mobile phones, PCBs (motherboards), and electric bikes.

“The merger is expected to deliver operational synergies, cost efficiencies, and revenue growth opportunities, while positively impacting earnings and long-term returns for all shareholders,” he said.
Walton Hi-Tech Managing Director S M Mahbubul Alam said the merger would build a stronger future by creating greater impact across the business.

“This initiative will elevate Walton’s technology and innovation-driven activities. It will unify our technology, human resources, research and development, and market expansion strategies,” he said.
He added that the merger would bolster Walton Hi-Tech’s product portfolio, expand market reach, enhance operational efficiency, and reduce costs.

“Our goal is to establish Walton as a globally recognised technology brand carrying the ‘Made in Bangladesh’ label. We believe this merger will accelerate that journey,” he said.

Shareholders at the EGM welcomed the proposed merger, calling it a timely, forward-looking business strategy with clear benefits.

They said the merger would strengthen Walton Hi-Tech’s product line, create new growth opportunities, ensure efficient resource use, and reduce operational costs.

Shareholders also congratulated both boards of directors for undertaking the initiative.
The board also discussed the share exchange ratio: one Walton Hi-Tech share will be issued for every 38.45 Walton Digi-Tech shares.

Accordingly, 780,234 Walton Hi-Tech shares will be issued for the 30 million Walton Digi-Tech shares.