MUMBAI: The Citigroup-owned broadband service provider, YOU Telecom, on Saturday announced the acquisition of IceNet, an Ahmedabad-based digital internet service provider for an undisclosed sum.
The development marks the beginning of consolidation in the ISP industry after Trai’s recommendations on new broadband and ISP regime. Various national ISP and telecom companies are said to eyeing similar acquisitions.
IceNet is India’s first and Gujarat’s largest registered ISP in the private space with a presence in corporate sector and VoIP solutions, a statement from YOU read.
YOU Telecom has the technology powered by high breed fibre coaxial cable network, which could create a strong platform to explore existing synergy between the companies, the statement added. “I am very happy that IceNet is merging into a larger entity having national footprint and larger resource pool. I am confident that IceNet and You Telecom together will take this business to a new height,” said Chirag Mehta, CEO & managing director, IceNet.
“We are pleased about this development as it will help us consolidate our reach in Ahmedabad, Baroda and Rajkot... all IceNet subscribers will now migrate on YOU network, thereby increasing our subscriber base. Most importantly, our last mile service will be enhanced to a greater level,” EVS Chakravarthy, CEO, YOU Telecom, added.
With YOU Telecom focussed on providing next generation broadband applications, the acquisition will further boost YOU Telecom’s triple play ambitions as IceNet is a strong player in the VoIP space, primarily data and voice.
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