iBus Networks and Infrastructure has acquired Ubico Networks from Shyam Group in an all cash deal. As per the agreement signed, iBus Group has acquired 100 per cent stake in Ubico Networks, it’s inbuilding and in campus neutral host infrastructure business and all related assets, for around INR 100 crore.
Ram Sellaratnam, CEO and MD, iBus commented, “iBus is on a mission to empower telecom companies and its consumers in utilising the power of data as India gets ready to board the 5G bus. Our data consumption pattern is one of the highest in the World. With Ubico’s acquisition, iBus Networks will lead the way in providing neutral IBS and DAS infrastructure sharing with mobile operators, enabling them to serve their customers seamlessly.”
Heera Girish, CFO, iBus believes that the combined entity of iBus and Ubico would lead to more consolidation in this space, delivering value and efficiency to all stakeholders.
Sanjay Kapoor, Advisor and Investor, iBus said, ”Unlike voice, 80 per cent of data gets consumed indoors. Without effective in building coverage both data monetisation and customer experience remain suboptimal. It’s been gratifying to see the iBus management team execute on their vision of developing a nationwide footprint of inbuilding coverage and playing a leadership role in enhancing the quality of inbuilding networks. Strong and wide availability of such networks is a prerequisite to adoption of a fifth generation network in India.”
Ubico founders have completely exited the company while 33 employees of Ubico will be joining iBus. Post this acquisition, iBus will become one of the largest neutral IBS companies with a pan India presence covering every Tier-1 city in India.