Telecommunications infrastructure provider iSON Tower Ltd. Inc. announced yesterday it has teamed up with U.S.-based private equity firm Peppertree Capital Management to fund the buildout of cell towers in the Philippines, according to the MailStandard.net.
“We are delighted to join hands with a fund of Peppertree’s caliber and look forward to bring to bear our collective strength and experience to establish world-class operations in the country, enable connectivity for Filipino communities and accelerate our growth in the region,” said iSON Tower founder and chairman Vivek Gupta in a statement.
Gupta said the funding allows the company to expand next-generation connectivity solutions and bridge the digital divide in the nation.
“Asia, and more so the Philippines, undoubtedly continues to be a high-growth market. With a market potential of 50,000 tower assets in the coming years, Philippines’ telecom sector has a promising future and is currently a focal point for us,” he told the MailStandard.net.
Rajiv Jaitly, chief executive of iSON Tower, said, “Increasing the pace of rollouts of digital infrastructure has been underscored by the pandemic. We see ourselves benefitting from our association with Peppertree and their knowledge of the telecom infrastructure ecosystem.”
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