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.

Source: Mint April 09, 2017 20:26 UTC