Leading Asian regional integrated telecommunications infrastructure services company edotco Group has further boosted its aim to be a major global tower player with the acquisition, through its local subsidiary PT edotco Infrastruktur Indonesia, of approximately 1,000 towers from Indonesian operator XL Axiata.
The deal is valued at approximately IDR 750 billion (about US$52.1 million). With this strategic acquisition, edotco says it has confirmed its foray into the Indonesian market – one of Asia’s largest and most established independent towerco markets.
As part of the transaction, edotco will acquire 859 towers through a sale and leaseback and enter into a managed service agreement for an additional 162 sites, with a significant build-to-suit potential with XL Axiata.
Following the transaction, edotco says it will enjoy a truly pan-Indonesian platform with a presence across all the major islands of Java, Sumatra, Bali, Kalimantan, Sulawesi, and Eastern Indonesia.
Commenting on the achievement, Adlan Tajudin, CEO, edotco Group, said: “ Our ambition is to grow aggressively, both organic and inorganic, to scale up our operations and become one of the market leaders in Indonesia."
And not just in Indonesia. Following this transaction, edotco will have a presence in nine markets across Asia, with a portfolio of over 50,000 owned and managed towers under its operations. The company says it also leverages its state-of-the-art real-time monitoring service echo, which helps to improve field operations while maximising operational efficiencies.
As we reported in November 2021, when it acquired Malaysia's Touch Mindscape, edotco is the largest independent tower company in Malaysia, where it is headquartered. However, its aspiration is to be a top five towerco in the world.