US-based wireless infrastructure firm, American Tower corporation (ATC) and Tata Teleservice, along with other shareholders have entered into an agreement to acquire a 51% controlling interest in Viom Networks for INR 76 billion (($1.17 billion).
American Tower, which already has a presence in the Indian market, will combine its 14,000 communications towers with Viom's 42,200 wireless communications towers and 200 indoor distributed antenna systems across the country.
Amit Sharma, American Tower’s Executive Vice President and President Asia
Through our joint ownership with the Tata Group of over 56,000 towers, American Tower will be strategically positioned to benefit from the leasing revenue growth opportunities that will come from the accelerating deployment of 3G and 4G technologies by all of the wireless carriers in the market.
James D. Taiclet, Jr., American Tower’s Chairman, President and Chief Executive Officer
With a population of nearly 1.3 billion people, rapidly growing smartphone penetration and limited fixed line infrastructure, India’s vibrant wireless industry is poised for a sustained period of network investment.
