GTL International Ltd, the wholly owned subsidiary of network services major GTL Ltd, has acquired Malaysia-based ADA Cellworks in an all cash deal of $25 million.
ADA Cellworks is a leading network planning and optimisation company, and the acquisition is subject to certain conditions and regulatory approvals. The deal is expected to close with in the next few weeks.
"With the acquisition of ADA Cellworks, we have progressed further on our inorganic growth strategy and strengthened our presence in the high value segments of network planning and optimisation," GTL Chairman and Managing Director Manoj Tirodkar said.
GTL is making the acquisition through its global subsidiary, GTL International.
ADA Cellworks offers, radio and transmission planning, network services, in-building design and project management and has competencies developed in implementing virtual planning and optimisation (VPO) and WiMAX. Headquartered in Kuala Lumpur, ADA Cellworks expects revenues of $31 million in financial year 2008.
The company was promoted by Intel Capital and Malaysian Venture Capital Management Bhd (MAVCAP), the venture capital arms of Intel Corporation and Malaysian Government, respectively.
According to Tirodkar, the acquisition will help the company access to fast growing markets like China, Indonesia and the South East Asian countries. The company gets a sizeable revenues from these regions.
"This will also strengthen relationships with leading telecom technology providers like Nokia Siemens Networks, Alcatel Lucent, Motorola, Ericsson and Huawei," he added.
Talking about the deal, Sudheer Kuppam, Intel Capital Managing Director for India, Japan, Australasia and South-East Asia said: "As an early-stage investor in ADA Cellworks, we are pleased to see that our support helped positioned the company for success. We wish ADA Cellworks well as it proceeds about its core business of radio frequency infrastructure design and implementation."
GTL Limited, part of the Global Group, is a network services company, offering services and solutions to address the Network Life Cycle requirements of Telecom Carriers and Technology providers (OEMs).
BY 2010, the group plans to engineer and manage 1,00,000 cell sites across 150 networks. These networks will connect more than 100 million subscribers in 50 countries across the world. |
