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Thursday, May 23, 2024

iSON taps US equity firm to fund rollout of cell towers in PH

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Telecommunications infrastructure sharing company iSON Tower Ltd. Inc. said Thursday it teamed up with Peppertree Capital Management Inc., a US-based private equity firm, to fund the rollout of more cell towers in the Philippines.

“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.

“Asia, and more so 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 said.

The company seeks to expand next-generation connectivity solutions and bridge the digital divide in the nation.

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. “

“And together with Peppertree Capital as our investor, we look forward to strengthening this ecosystem in Philippines and supporting DICT’s vision of the country to be a digitally enabled and connected nation,” Jaitly said.

“We have known iSON’s management for years, and look forward working with them and supporting their efforts in bringing 5G connectivity to The Philippines,” said Howard Mandel, co-president of Peppertree Capital.


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