GX Group Acquires Ping Communication, Targets USD 50 Million LATAM Biz

New Delhi, Mar 28 (PTI) Telecom gear maker GX Group has acquired Switzerland-based broadband and fiber solution provider Ping Communication to expand its presence in Europe, the Middle East and Latin America, the company said on Friday.

GX Group, CEO, Paritosh Prajapati in a statement said the company will leverage its "Made in India" products to compliment existing portfolio of Ping Communication and thereby scale up the revenue to USD 50 million, about Rs 430 crore, in the next two years in Latin America (LATAM) region.

The company, however, did not disclose the financial details of the transaction.

"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," he said.

Ping Communication is part of Norway's Heimgard Group.

"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 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.

Prajapati said Ping Communication has a 20-year legacy in delivering broadband gateways, Voice over Internet Protocol (VoIP) adapters, fiber CPEs, and remote monitoring and management systems and is currently one of the largest volume suppliers in the LATAM Broadband equipment market notably serving top-tier accounts like TELMEX and America Movil (AMX).

GX Group, formerly known as Genexis, started its operations in 2002, and expanded the business Pan India by 2013, when it acquired Ericsson end-user equipment part from Sweden.

Genexis was given a new brand identity and renamed as GX Group in 2018.