Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Start-ups/  Ardom Telecom acquires Quanta Towergen
BackBack

Ardom Telecom acquires Quanta Towergen

The Quanta Towergen acquisition is expected to provide Ardom Telecom a significant foothold into a fast-growing telecom infrastructure market

Ajit Shankar, chairman and managing director, Ardom Telecom.Premium
Ajit Shankar, chairman and managing director, Ardom Telecom.

New Delhi: Telecom infrastructure operation and maintenance firm Ardom Telecom Pvt. Ltd on Sunday announced the acquisition of Quanta Towergen for an undisclosed amount.

Ardom, backed by L&T Infra Investment Partners, announced the “acquisition of 100% shareholding in Quanta Towergen Pvt. Ltd (QTPL), owned by Quanta Services Netherlands BV, 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.

“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," Ardom managing director and chief executive officer Ajit Shankar said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 10 Apr 2017, 01:58 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie