GTL buys Malaysian network company

GTL, a network services provider company, has acquired Malaysia-based ADA Cellworks for $25 million in an all cash deal. The deal would conclude over the next few weeks and GTL International, its subsidiary, would be acquiring the stake from the founder promoters of ADA Cellworks. Key investors in ADA Cellworks include Intel Capital, the venture capital arm of Intel Corporation, and Malaysian Venture Capital Management that belongs to the Malaysian Government.

ADA Cellworks, which offers radio and transmission planning and network services, is expecting revenues of $31 million during the current year. It has companies like Nokia, Siemens, Alcatel and Huawei as its customers and has 750 professionals working for it.

The company has executed over 80 projects in 24 countries though nearly 40 per cent of its revenues come from countries like China and Taiwan. The Rs 1,000-crore GTL said the acquisition would give it exposure to fast growing South East Asian markets. Commenting on the deal, company’s chairman and managing director Manoj Tirodkar said, “With the acquisition of ADA Cellworks, we have progressed further on the inorgnic growth strategy and strengthened our presence in the high value segments of network planning and optimisation.”