by AZALEA ANUAR / pic credit: EDOTCO Group FB

EDOTCO Group Sdn Bhd through its subsidiary PT edotco Infrastruktur Indonesia announced the acquisition of 1,000 towers from PT XL Axiata Tbk in a deal valued at RM219 million, according to a statement yesterday.

The acquisition enables the group to penetrate into the Indonesian market and become one of Asia’s largest and most established independent TowerCo markets.

edotco will acquire 859 towers through a sale and leaseback and for the additional 162 sites, it will enter a managed service agreement with a significant Build-To-Suit potential with XL Axiata.

Following the transaction, edotco will enjoy a truly panIndonesian 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. Our ambition is to grow aggressively, both organic and inorganic, to scale up our operations and become one of the market leaders in Indonesia,” said CEO of edotco Mohamed Adlan Ahmad Tajudin.

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.