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GTL acquires Malaysian firm for $25 Mn
By siliconindia
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Friday, 16 November 2007, 20:30 IST
Mumbai: GTL, network service provider, has acquired a Malaysia based network planning and optimisation company, ADA Cellworks, in an all-cash deal of $25 million. The acquisition will conclude in the next few weeks.
"With this, we have progressed on our inorganic growth strategy and strengthened our presence in the high value segments of network planning and optimisation," Manoj Tirodkar, Chairman and Managing Director, GTL, said.
The acquisition will also result in access to markets in China, Indonesia and South-East Asia. "This will also strengthen relationships with leading telecom technology providers such as Nokia Siemens Networks, Alcatel Lucent, Motorola, Ericsson and Huawei," he added.
The acquisition was done through GTL's global arm, GTL International. The promoters of ADA Cellworks include Intel Capital - the venture capital arm of Intel - and Malaysian Government, through its arm Malaysian Venture Capital Management (MAVCAP).
Headquartered in Kuala Lumpur, ADA Cellworks expects revenues of $31 million in financial year 2008.
The company has a significant presence in China, Indonesia, Taiwan and India. It has also worked on 80 projects across 24 countries and is expecting to post revenues of around $31 million in the current financial year.
ADA Cellworks offers, radio and transmission planning, network services, in-building design and project management