Telecom infrastructure operation and maintenance firm Ardom Telecom Pvt. Ltd announced the acquisition of Quanta Towergen for an undisclosed amount.
According to PTI, Ardom, backed by L&T Infra Investment Partners, announced the acquisition of 100 per cent shareholding in Quanta Towergen Pvt. Ltd (QTPL), owned by Quanta Services Netherlands BV, in turn owned by Quanta Services, Inc in an all-cash deal.
The company said in a statement that the acquisition is part of Ardom’s strategy to strengthen its fixed energy cost business and is expected to provide Ardom a significant foothold into a fast-growing market.
Ardom managing director and chief executive officer Ajit Shankar added that this acquisition is in line with thier objective of providing sustainable and reliable clean energy to telecom sites under long-term contracts to create value in the company.
The Quanta Towergen acquisition is expected to provide Ardom Telecom a significant foothold into a fast-growing telecom infrastructure market.
