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New Delhi, Nov. 4

American Tower Corp (ATC) has announced that it has acquired 100 per cent shares of Transcend Infrastructure from Insight Infrastructure Ltd of Singapore for about Rs 95 crore. Transcend owns and operates approximately 325 towers in Bihar, Orissa, West Bengal, Assam and North East and has an average tenancy of 1.3 on its sites. Speaking on the acquisition, Mr Amit Sharma, President, ATC Asia, said, “This acquisition is in line with our commitment and growth strategy for India. Transcend’s strong regional portfolio, along with a team that has great expertise and experience in building and managing towers in difficult terrains, will help further consolidate ATC’s position as one of the fastest growing independent tower companies in India. We will use the Transcend platform to jump start our growth in the eastern circles where a majority of cellular operators are rolling out their networks.” This is the second acquisition for ATC in India. In May 2009, ATC completed an acquisition of XCEL Telecom Private Ltd. With this acquisition, ATC’s combined India portfolio exceeds 2,500 sites.

— Our Bureau

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