Malaysia’s edotco Group, one of Asia’s leading integrated telecommunications infrastructure services firms, announced its acquisition of approximately 1,000 towers from XL Axiata for about RM219 million ($52 million).
The acquisition, which was made through a local subsidiary, PT edotco Infrastructure Indonesia, confirms edotco’s 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 will enjoy a truly pan-Indonesian platform with a presence across all the major islands of Java, Sumatra, Bali, Kalimantan, Sulawesi, and Eastern Indonesia.
“We have been intensifying our efforts to enter Indonesia since mid-2021 and have been actively pursuing several entry strategies in parallel. The acquisition will accelerate our strategy towards becoming a top-five Global TowerCo and help us gain a strong foothold in one of Asia’s most sought-after tower and telecom markets,” said Adlan Tajudin, CEO of edotco Group.
The ambition, he added, is to grow aggressively, both organic and inorganic, to scale up operations and become one of the market leaders 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 also leverages its state-of-the-art real-time monitoring service, echo, which helps to improve field operations whilst maximising operational efficiencies.
Established in 2012, edotco Group is the first regional and integrated telecommunications infrastructure services company in Asia, providing end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy, transmission, and operations and maintenance (O&M).
edotco Group operates and manages a regional portfolio of over 50,000 towers across Malaysia, Bangladesh, Cambodia, Sri Lanka, Pakistan, Philippines, Myanmar, and Laos.