Macquarie Capital acquires controlling stake in CloudExtel for $100 million
- ByStartupStory | May 12, 2023
Macquarie Capital, the investment and capital markets division of Macquarie Group, has acquired a majority stake in Excel Telesonic India, a Network as a Service (NaaS) provider in India, for $100 million. CloudExtel offers solutions for telecom operators, data centers, internet service providers, and large content providers to provide them with cost-effective and future-proof networks.
With the support of Macquarie Capital’s flexible capital investment, CloudExtel plans to enhance and expand its telecommunications infrastructure portfolio, focusing on small cells and fiber. Additionally, the company aims to move towards virtualized networks, which will provide better performance and faster data connectivity for end users.
Ivan Varughese, the Senior Managing Director and Head of Infrastructure and Energy Capital, Asia Pacific at Macquarie Capital, stated that “better network coverage and capacity are crucial to ensure that people remain connected in the era of rapid digitalization. He further added, that Macquarie Capital is thrilled to apply its global expertise to assist CloudExtel in expanding its telecommunications portfolio while also enhancing the connectivity quality and efficacy for local communities throughout India”.
Kunal Bajaj, CEO and Co-Founder of CloudExtel, commented, “The demand for mobile internet data has increased 20 times in India since 2015, making adequate infrastructure critical for high-quality user experience. With tower fiberisation at 33% and low enterprise and household fiber penetration in India, partnering with Macquarie Capital will enable us to substantially scale our infrastructure services, adopt global best practices, and ultimately deliver superior networks for telecom operators and delighted end users.”
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