Macquarie Capital, the corporate advisory, capital markets, and principal investment arm of Macquarie Group, has acquired a majority stake in Excel Telesonic India (CloudExtel), a Network as a Service (NaaS) provider in India for $100 million..

CloudExtel provides solutions for telecom operators, internet service providers, data centres, enterprises and large content providers to equip them with cost effective futureproof networks.

Macquarie Capital’s flexible capital investment will enable CloudExtel to further develop and roll out its telecommunications infrastructure portfolio, particularly in small cells and fibre while continuing to push the envelope towards virtualised networks, which will facilitate improved performance and faster data connectivity for end users.

Ivan Varughese, Senior Managing Director and Head of Infrastructure and Energy Capital, Asia Pacific, Macquarie Capital said: “With the rapid growth of digitalisation, better network coverage and capacity is essential to enabling people to stay connected. We are excited to leverage our global experience to support CloudExtel in expanding their telecommunications portfolio as well as enhancing the quality and effectiveness of connectivity for local communities across India.”

“The demand for internet data via mobile networks has risen 20-fold since 2015 in India. Adequate infrastructure to decongest networks and enhance connectivity is a must for a high quality user experience. Furthermore, tower fiberisation in India stands at 33 per cent, versus around 70 per cent in mature global markets. Enterprise and household fibre penetration is even lower. These gaps depict the opportunities that lie ahead for CloudExtel. Partnering with Macquarie Capital and their flexible balance sheet will help us substantially scale our infrastructure services and imbibe global best practices, ultimately leading to superior networks for telecom operators and delighted end users,” said Kunal Bajaj, CEO and Co-Founder, CloudExtel.

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