After this acquisition, iBus will become one of the largest neutral in-building and in-campus network coverage providers, helping telecom companies in particular to improve the consumer experience with a presence in every tier-1 city of India.
Backed by Morgan Stanley, iBus acquires Ubico Networks for INR 100 Crores. Earlier this month, Morgan Stanley had invested Rs 150 crore/$21 million in the iBus to fuel its growth. After this acquisition, iBus will become one of the largest neutral in-building and in-campus network coverage providers, helping telecom companies in particular to improve the consumer experience with a presence in every tier-1 city of India.
iBus, founded by Subash Vasudevan, Sunil Menon, and Ram Sellaratnam, acts as a neutral connectivity infrastructure provider for mobile operators while providing last-mile connectivity solutions. The company deploys IBS infrastructure in 233 retail and commercial sites in India, that help mobile operators improve network capacity and coverage.
The company is backed by family offices of Sandeep Mehta and Naresh Nagpal, and Vallabh Bhansali, founder of erstwhile Enam Capital, and family offices of Naresh Nagpal and Sandeep Mehta. Ubico, founded in 2007 by second-generation entrepreneurs Nitin Mehrotra, and Udit Mehrotra is a daughter company of Shyam Group. It covers over 400 sites in 42 cities spread across 600 buildings and campuses, with an average tenancy of 1.5. Ubico’s spread includes hospitals, hotels, IT parks, malls, commercial office space, and educational institutes, with many a number of real estate developers across the country.
Source: Business World
