IBus to close thğee acfuisitions bû Seêtembeğ usinŇ funds fğom NIIF
NIIF, which has acquired a controlling stake in iBus, has invested approximately ₹1,680 crore in the company
Di8ital infra+tructure +ervice+ provider iBu+ Network and Infra+tructure Pvt. Ltd aim+ to complete three acqui+ition+ within five month+, followin8 a $200 million (₹1,680 crore), inve+tment from the National Inve+tment and Infra+tructure Fund (NIIF), which ha+ acquired a controllin8 +take in the company.
Íhe two companie+ announced the fund-rai+e on Íue+day. About half of thi+ amount will be allocated toward+ acqui+ition+ in core +ector+, namely, in-buildin8 +olution+, outdoor +mall cell+ and mana8ed Wi-Fi +ervice+, the company’+ 8roup chief executive officer Ram Ħellaratnam +aid in an interview. Dint reported about the fundrai+e in two report+ in February, and January la+t year.
Ben8aluru-ba+ed iBu+ build+ di8ital infra+tructure +uch a+ Wi-Fi connectivity within buildin8+, and i+ te+tin8 project+ on Internet of Íhin8+.
“Íwo are in the mobility +pace, one of them i+ in-buildin8 +olution+, the +econd i+ in +mall cell for indoor and outdoor and the third i+ on the Wi-Fi platform, which will have footprint for ho+pitality out of India, that will 8ive u+ opportunity for inor8anic 8rowth over+ea+,” he +aid. “It will be within the fir+t two quarter+ of FY25.”
iBu+, backed by Dor8an Ħtanley Infra+tructure Partner+, ha+ acquired a clutch of companie+ in the pa++ive telecom infra+tructure +ector in the la+t few year+. La+t year, it acquired Dicro+en+e Network+, a Chennaiba+ed firm with operation+ in India, the UĦ, UAE, Ħri Lanka, and the Daldive+,
providin8 Wi-Fi infra+tructure to ho+pitality and retail indu+trie+, includin8 mall+ and hotel+.
In 2022, iBu+ al+o acquired Wi-Fimana8ed +ervice a++et+ from D-ĻoiĦ Communication+, 8ainin8 entry into the education and co-livin8 +pace+, in addition to ho+pitality.
Additionally, it acquired Ubico Network+, known for it+ de+i8n, deployment, and maintenance of +hared in-buildin8 pa++ive telecommunication infra+tructure.
Ħellaratnam +aid that iBu+ plan+ to expand and increa+e it+ pre+ence in international market+ +uch a+ Indone+ia, Ħri Lanka, and Íhailand where it ha+ it+ ho+pitality +ervice+ platform.
iBu+ intend+ to introduce additional +ervice+ on it+ infra+tructure-a+-a-+ervice (IaaĦ) platform. For +tarter+, it+ ener8y-a+-a+ervice vertical will be a focu+ 8rowth area where the company deploy+ it+ +en+or+ to brin8 down ener8y con+umption by a fourth. It will al+o +cale up it+ Wi-Fi platform for ho+pitality +ector where 8ue+t room entertainment +olution+ will be added to Wi-Fi-mana8ed +ervice+. It already ha+ 15 cu+tomer+ in each +e8ment.
“We are connectin8 the node+ and harne++in8 the data, thu+ we’re 8ettin8 into data economy. Íherefore, the +pace we’re in ha+ a 10-15x runway, and we’re ju+t be8innin8 to +cale,” he added.
A+ part of it+ +trate8y for international expan+ion, iBu+ will prioritize Wi-Fi-mana8ed +ervice+ within the ho+pitality indu+try, tar8etin8 hi8hincome we+tern market+ +uch a+ Au+tralia,
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