GTL buys ADA Cellworks for $ 25 mln

New Delhi, Nov 15 (UNI) GTL International Ltd, the wholly-owned international subsidiary of GTL Ltd, has acquired 100 per cent stake in ADA Cellworks in an all cash deal for 25 million dollars.

''With the acquisition of ADA Cellworks, we have progressed further on our inorganic growth strategy and strengthened our presence in the high-value segments of network planning and optimisation,'' GTL Ltd Chairman and Managing Director Manoj Tirodkar said.

The acquisition will strengthen the services of network planning and design, network operations and maintenance, and professional services of GTL and also allow access to fast growing markets like China, Indonesia and the South East Asian Corridor which constitute sizeable revenues of the company, a statment said.

The acquisition will also strengthen the relationships with leading telecom technology providers (OEMs) like Nokia Siemens Networks, Alcatel Lucent, Motorola, Ericsson and Huawei, the statement added.

The deal will conclude in the next few weeks subject to certain condition precedents and regulatory approvals.

Malaysia-based ADA Cellworks, the leading network planning and optimisation player in Asia Pacific, has executed over 80 projects across 24 countries with significant presence in China, Indonesia, Taiwan and India. Key investors in the company include Intel Capital, the venture capital arm of Intel Corporation and Malaysian Government through, Malaysian Venture Capital Management (MAVCAP).

ADA Cellworks expects revenue of 31 million dollars for 2008.

UNI