edotco, is entering the Indonesian market by acquiring approximately 1,000 towers from XL Axiata in a deal valued at about IDR 750 billion (RM219 million) through its local subsidiary PT edotco Infrastruktur Indonesia.
Althiough the purchase is within the group, the acquisition will present the company access to 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 BuildTo-Suit potential with XL Axiata.
This will immediately give the company presence across all the major islands of Java, Sumatra, Bali, Kalimantan, Sulawesi, and Eastern Indonesia. Commenting this, Adlan Tajudin, CEO, edotco Group, said, “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.”
With the latest foray, edotco will have a presence in 9 markets across Asia, with a portfolio of over 50,000 owned and managed towers under its operations.
