U.K.-based telecom services company New Call Telecom has said it will invest $100 million in buying telecommunication firms in India over the next 18 months. New Call is looking to expand its reach in the value-added and broadband services in the country and will acquire four mid-sized companies in India.
CEO of New Call Telecom Nigel Eastwood on Tuesday said that the company was still in discussions with the Indian companies and a formal announcement will be made in the next few weeks. India’s telecom market has boomed over the years and is expected to grow at a steady and strong pace, making it a suitable time for investments. Eastwood hopes that their strategic acquisitions will help the sixth largest residential ISP in the U.K. enter the Wi-Fi, fixed line connectivity and messaging domains. The chairman of New Call Dr. Jerome Booth clarified that the company was not looking to compete with current telecom service providers in India, but rather hoping to partner with the operators.
Eastwood added that they will not invest in start-ups but in companies four years old or more with the aim of strengthening both the businesses. The number of subscribers in India was huge and the company sees major opportunities for growth in the country.
With initial focus on metro cities, the company will be seeking to offer public Wi-Fi services and fixed line broadband in the country. The telecom firm will then move on the semi-rural and rural areas with internet services.