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.
Market Influence in LATAM
Ping Communication, a subsidiary of Norway's Heimgard Group, has a 20-year legacy in broadband gateways, Voice over Internet Protocol (VoIP) adapters, fiber CPEs, and remote management systems. It is a key supplier to major LATAM telecom players TELMEX and America Movil (AMX), according to Prajapati.
"This acquisition is a key milestone in our 'Make in India for the World' journey. LATAM is one of the high-volume Fiber To The Home (FTTH) markets after Asia, and this move positions GX to become a dominant force," he reportedly said.
The deal places GX Group at the forefront of the LATAM broadband revolution, with WiFi 6 and WiFi 7, cloud-managed CPE (Customer Premises Equipment), and AI-powered OSS platforms set to be deployed across open access and private operator networks, the statement added, as per the report.
Citing market estimates, the companies reportedly said the LATAM region currently has 111 million home broadband passes, with 134 million passes expected by 2027. The combined value potential of the fiber-to-the-home (FTTH) and software-as-a-service (SaaS) stands between USD 5 billion and USD 8 billion.
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GX Group's Evolution and Expansion
Originally founded as Genexis in 2002, the company expanded across India by 2013 after acquiring Ericsson's end-user equipment division and was rebranded as GX Group in 2018.
The financial terms of the deal were not disclosed.
