Atria Convergence Technologies (ACT) Fibernet is in exploratory talks with players like Nextra Teleservices, Spectranet and Excitel Broadband least three internet service providers for a possible acquisition, which would allow the former to expand presence in the country and provide reach in newer markets beyond the south region.
Backed by TrueNorth and TA Associates, ACT Fibernet had in 2009 acquired Hyderabad-based Beam Telecom, which had 30,000 customers. It currently has 1.2 million subscribers in India and claims to be the third largest wireline broadband provider after BSNL and Bharti Airtel.
Having presence in 11 cities in India, the internet service provider has plans to enter three new cities with its high-speed broadband services, while increasing focus on highly-competitive Delhi-NCR market.
Bala Malladi, CEO at Atria Convergence Technologies said the company has earmarked Rs 100 crore in capital expenditure for the Delhi market. ACT is currently offering services in Southern and Western parts of the city, and it will expand services across Delhi-NCR in 36 months.
Overall, ACT will invest Rs 600-700 crore during the fiscal to March 2018 in markets where the company already has presence, mainly Bengaluru and Chennai. It recently launched its 1 Gbps high-speed broadband service in Hyderabad, and has plans to launch the service in Bengaluru and Chennai in the next six months.
ACT is also in talks with Google and Facebook for their Wi-Fi services in the country, Malladi said, adding that the ISP plans to open its Wi-Fi network in Hyderabad, which can be used by multiple players. The ISP is deploying 1,000 WiFi hotsposts in Hyderabad as part of the ‘City Wi-Fi Project’.
By Baishakhi Dutta