Telecom infrastructure operation and maintenance firm Ardom Telecom today announced the acquisition of Quanta Towergen for an undisclosed amount.
L&T Infra Investment Partners-backed Ardom Telecom Pvt Ltd announced "acquisition of 100 per cent shareholding in Quanta Towergen Pvt Ltd (QTPL)- owned by Quanta Services Netherlands B. V, in turn owned by Quanta Services, Inc...In an all-cash deal."
"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," it said in a statement.
Ardom Telecom did not disclose the deal size.
QTPL provides operation and maintenance services on telecom tower sites.
Ardom MD and CEO Ajit Shankar 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.
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