KUALA LUMPUR: Axiata Group Bhd subsidiary, edotco Group Sdn Bhd, has acquired 1,000 towers from XL Axiata in a deal valued at about IDR 750 billion (RM219 million) via its local subsidiary PT edotco Infrastruktur Indonesia.
edotco chief executive officer Adlan Tajudin said the acquisition would accelerate its strategy towards becoming a top-five Global TowerCo and help it gain a strong foothold in one of Asia's most sought-after tower and telecom markets.
He said edotco has been intensifying its efforts to enter Indonesia since mid-2021 and have been actively pursuing several entry strategies in parallel.
"Our ambition is to grow aggressively, both organic and inorganic, to scale up our operations and become one of the market leaders in Indonesia," he said.
According to edotco, this strategic acquisition 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 will enjoy a truly pan-Indonesian platform with a presence across all the major islands of Java, Sumatra, Bali, Kalimantan, Sulawesi, and Eastern 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 real-time monitoring service, echo, which helps to improve field operations whilst maximising operational efficiencies.