GTL acquires ADA Cellworks for $25mn
GTL has acquired 100 per cent stake in ADA Cellworks in all cash deal for $25 million through its wholly owned international subsidiary GTL International.
By INDIATIMES NEWS NETWORK |
MUMBAI: GTL has acquired 100 per cent stake in ADA Cellworks in all cash deal for $25 million through its wholly owned international subsidiary GTL International.
"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 optimization," said Manoj Tirodkar, Chairman and Managing Director, GTL.
ADA Cellworks, network planning and optimisation player in Asia Pacific, has key presence in China, Indonesia, Taiwan and India. Its revenue for 2007-08 (Apr-Mar) is expected to be around $31 million.
At 12:48 pm, GTL shares were up 0.26 per cent at Rs 269 on BSE.
"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 optimization," said Manoj Tirodkar, Chairman and Managing Director, GTL.
ADA Cellworks, network planning and optimisation player in Asia Pacific, has key presence in China, Indonesia, Taiwan and India. Its revenue for 2007-08 (Apr-Mar) is expected to be around $31 million.
At 12:48 pm, GTL shares were up 0.26 per cent at Rs 269 on BSE.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
