GX Group Acquires Ping Communication to Expand in LATAM, Europe, and Middle East: Report

Telecom equipment maker GX Group has acquired Switzerland-based Ping Communication, a broadband and fiber solutions provider, to strengthen its footprint in Latin America (LATAM), Europe, and the Middle East, according to a PTI report.

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GX Group Strengthens Global Presence

The acquisition aligns with GX Group’s “Make in India for the World” strategy. CEO of GX Group, Paritosh Prajapati reportedly stated that integrating its “Made in India” products with Ping Communication’s portfolio will help scale revenue to USD 50 million, approximately Rs 430 crore, in the next two years in the LATAM region.

“The acquired entity will significantly boost GX’s end-to-end in-home broadband solution portfolio across residential and enterprise broadband, hospitality, and cloud-managed services,” said the CEO of GX Group, according to an ET Telecom report. He added, “After six months, Ping Communication will become part of GX Group. The current revenue of Ping Communication is around USD 30 million. By complementing its portfolio with our ‘Made in India’ products we expect to scale up our revenue to USD 50 million by 2026.”

“This acquisition marks a significant milestone for both GX and Ping Communication. By combining GX’s Made-in-India product expertise and AI-driven network management with Ping Communication’s robust R&D, sales force, and LATAM market leadership, we’re creating a powerful synergy that will redefine telecom solutions across emerging markets,” Trond Hovind, chief executive officer (CEO), Ping Communication, and Lars Jervan, CEO of Eltek Holding AS said in a joint statement, according to reports.