technology

Morgan Stanley-backed iBus Networks acquires Ubico Networks for Rs 100 crore


Morgan Stanley Infrastructure fund-backed iBus Networks has acquired Ubico Networks for about Rs 100 crore.

Earlier this month, Morgan Stanley had invested Rs 150 crore ($21 million) in the Bengaluru-based company to fund its inorganic growth.

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After this acquisition, iBus will become one of the largest neutral in-building and in-campus network coverage providers, helping telecom companies improve the data consumption experience for their consumers with a presence in every tier-I city in the country, the company said.

iBus, founded by Sunil Menon, Subash Vasudevan and Ram Sellaratnam, offers IBS and last-mile connectivity solutions, besides acting as a neutral connectivity infrastructure provider for mobile operators. The company deploys IBS infrastructure across 233 commercial and retail sites in India that help mobile operators improve network capacity and coverage.

The company is backed by Vallabh Bhansali, founder of erstwhile Enam Capital and family offices of Naresh Nagpal and Sandeep Mehta.

“With 276 million sq ft coverage achieved, we are working towards doubling our coverage to serve 7 million customers, growing at CAGR of 45% annually,” said Ram Sellaratnam, managing director of iBus. “Ubico’s acquisition is a step in that direction. They already have a coverage of over 200 million sq ft. As we upgrade our infrastructure for 5G compatibility, the inorganic expansion route will accelerate our growth plans on the company front.”

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Ubico, founded in 2007 by second generation entrepreneurs Udit Mehrotra and Nitin Mehrotra, is part of the Shyam Group. It covers over 200 million sq ft spread across 400 sites in 42 cities with an average tenancy of 1.5 spread across 600 buildings and campuses. Ubico’s spread includes hotels, hospitals, IT parks, commercial office space, malls and educational institutes, with many leading real estate developers across the country.

“The company provides in-building and in-campus coverage solutions, a recurring need which was not being catered by most major telecommunication infrastructure players,” said Udit Mehrotra, managing director, Shyam Spectra. “Ubico’s pioneering offering of neutral-host in-building distributed antenna system (DAS) infrastructure has become an industry standard.”

He said, “We believe Ubico would provide a readily available scale for iBus and will expedite its vision to be an end-to-end telecommunications and network service provider, addressing the mounting need for wider and seamless connectivity.”



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