Ardom has announcedÂ acquisition of 100% shareholding in Quanta Towergen Pvt. Ltd (QTPL).Â 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. QTPL provides O&M services to on telecom tower sites spread over six telecomÂ circles on a fixed energy cost model.
Ajit Shankar, MD & CEO of Ardom, said, “This acquisition is in line with our objective of providing sustainable and reliable clean energy to telecom sites under long-term contracts to create value in the company.” Co-founders & directors of Ardom- Ravdeep Singh & Pankaj Sharma expressed confidence that due to significant geographical overlap on Service Portfolios of two companies and the economies of scale, this acquisition shall lead to better value proposition for all stakeholders.
Vipul Singh, Chairman, Ardom Holdings, said, “We are delighted with this acquisition which is in line with our objective of providing sustainable and reliable clean energy to telecom sites and maintain them under long-term contracts to create value in the company.”
Gurgaon based law firm, Eminds Legal, acted as a legal counsel to Ardom for the said acquisition.
L&T Private Equity is an early stage investor in Ardom Telecom, one of the fastest growing technology companies of India. Quanta Towergen acquisition is the first major acquisition by Ardom and possibly first M&A activity in telecom RESCO space.Telecom Industry has been witnessing mergers and acquisition across the value chain latest being Vodafone-Idea merger amongst telecom operators; and Viom acquisition by American Tower amongst telecom tower cos. Incidentally, QTPL’s acquisition by Ardom completes the coverage of M&A activities across the telecom services value chain.
@Technuter.com News Service