GTL International acquires Intel-promoted ADA Cellworks
Our Corporate Bureau
16 November 2007
GTL International Ltd, the wholly owned international subsidiary of Network Services provider, GTL Ltd, has acquired 100 per cent interest in the Kuala Lumpur-based network planning and optimisation services provider, ADA Cellworks in an all cash deal valued at around $25 million.
GTL International will acquire the stake from ADA Cellworks' founder promoters Intel Capital, the venture capital arm of Intel Corporation and Malaysian Venture Capital Management, the venture capital investment arm of the Malaysian finance ministry.
ADA Cellworks has experience in executing over 80 projects across 24 countries with significant presence in China, Indonesia, Taiwan and India.
"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," said Manoj Tirodkar, chairman and managing director, GTL Ltd.
ADA Cellworks, which expects revenue of approximately $31 million in FY 2008, offers radio and transmission planning, network services (optimisation, benchmarking, network audit and RF services), in-building design and project management, and has competencies developed in implementing virtual planning and optimisation (VPO) and WiMAX. ADA Cellworks has over 750 professionals, with experience in network planning and optimisation on 2G, 2.5G, 3G technologies.
The acquisition will strengthen GTL's capabilities and allow access to fast growing markets like China, Indonesia and the South East Asian corridor which constitute sizeable revenues for the Indian telecom services solutions provider. The acquisition will also strengthen GTL's relationships with leading telecom technology providers like Nokia, Siemens Networks, Alcatel Lucent, Motorola, Ericsson and Huawei.