M&A

M&A

CloudExtel to invest Rs.2,000-Cr to acquire cable operating cos

Business Standard  

Mumbai-based CloudExtel , backed by Macquarie Capital, is planning to invest between INR 1,500 crore and INR 2,000 crore over the next three to five years to acquire local cable operating companies and niche firms, primarily through debt. This follows previous funding of USD 100 million from Macquarie Capital, which acquired a majority stake in the company in 2023, and a separate debt raise of INR 200 crore from private sector banks.CloudExtel is a full-stack network-as-a-service provider that offers neutral network back-end infrastructure to internet service providers, enterprises, public sector units, and major carriers. The company intends to use the proceeds from its recent debt raise to expand its data center connectivity segment, starting in Mumbai before scaling operations elsewhere.The firm plans to use the acquisitions to expand its footprint in the network-as-a-service sector.