edotco to Acquire Tower Company in Pakistan
Kuala Lumpur and Islamabad, 20 June 2017
edotco Group Sdn Bhd (“edotco”) through, edotco Pakistan (Private) Limited, announced it has entered into an agreement with Tower Share (Private) Limited (“TS PK”) to acquire 100% of its subsidiary, Tanzanite Tower Private Limited (“TTPL”).
The acquisition is an important strategic development to edotco’s existing operations in Pakistan and allows edotco to expand its presence in Pakistan with a sizeable portfolio of approximately 700 towers providing tenancies to all major mobile operators in the country. This opportunity is in line with edotco’s plans to scale up its Pakistan operations and makes it the largest independent tower company in the country. This puts edotco in a strong position to accelerate its tower build out and take advantage of further acquisition and consolidation opportunities. The transaction values TTPL at an enterprise value of USD90 million.
edotco Chairman, Datuk Azzat Kamaludin stated, “I am very pleased with the continuous progress and milestones edotco is making in its business growth and presence in the region. The Board is confident that this acquisition will bring positive financial returns to the Group. edotco’s growth in both its business strength and financial performance has been remarkable, allowing it to self-fund its growth and expansion strategies. Today, its expansion into Pakistan will further strengthen edotco’s position as a leading independent tower company in Asia.”
Suresh Sidhu, CEO of edotco, said: “This acquisition supports edotco’s growth strategy and ambition to position itself as the leading independent telecommunications infrastructure services provider across Asia. It also demonstrates our continued confidence in the Pakistan market and long-term commitment to support the development and enhancement of the country’s telecommunications infrastructure.”
Incorporated in 2008 and headquartered in Islamabad, TS PK is a wholly-owned subsidiary of Towershare Inc., a leading regional independent owner and operator of wireless communications infrastructure focusing primarily in the Middle East, North Africa and South Asia (or MENASA markets).
The transaction is scheduled to be completed only upon receipt of relevant regulatory approvals.
About edotco Group
Established in 2012, edotco is the first regional and integrated telecommunications infrastructure services company in Asia, providing end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy, transmission and operations and maintenance (O&M).
edotco operates and manages a regional portfolio of over 25,000 towers across core markets of Malaysia, Myanmar, Bangladesh, Cambodia, Sri Lanka and Pakistan with 17,100 towers directly operated by edotco and a further 8,100 towers managed through a range of services provided. edotco strives to deliver outstanding performance in telecommunications infrastructure services and solutions. Its state-of-the-art real time monitoring service, echo, has already seen improvements in field operations while maximizing operational efficiencies in terms of battery, energy and fuel consumption for telecommunications infrastructure.
edotco Group was recently awarded the Frost & Sullivan 2016 Southeast Asia Telecoms Tower Company of the Year Award for its demonstrated exemplary business growth and performance in Southeast Asia.
For more information, kindly visit www.edotcogroup.com