American Tower Corporation (ATC) today said it has acquired Kolkata-based tower company Transcend Infrastructure for about Rs 95 crore.
ATC has acquired 100 per cent shares of Transcend Infrastructure from Insight Infrastructure of Singapore for about Rs 95 crore, ATC said in a statement.
With this acquisition, ATC's combined India portfolio exceeds 2,500 sites.
Transcend owns and operates about 325 wireless communication sites in Bihar, Orissa, West Bengal, Assam and North East.
"This acquisition is in line with our growth strategy for India. Transcend's regional portfolio and expertise in managing towers in difficult terrains will help further consolidate our position," ATC Asia President Amit Sharma said.
"We will use the Transcend platform to jump start our growth in the eastern circles where a majority of cellular operators are rolling out their networks," he added.
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This is the second acquisition for ATC in India.
In May 2009, ATC completed an acquisition of XCEL Telecom.