GTL Ltd has announced that its wholly-owned unit GTL International Ltd has signed a contract to get hold of 100% stake in Malaysia-based, ADA
for around $25 million in cash.

The company officials said that
the acquisition is subject to conditions and regulatory approvals, and
will conclude in the next few weeks.

Manoj Tirodkar, Chairman
and Managing Director, GTL said, "With the acquisition of ADA
Cellworks, we have progressed further on our inorganic growth strategy
and strengthened our presence in the high value segments of network
planning and optimization.”

ADA Cellworks offers, Radio &
Transmission Planning, Network Services, In-building Design and Project
Management. The company has headquartered in Kuala Lumpur, Malaysia. It
has experience of executing over 80 projects across 24 countries with
significant presence in China, Indonesia, Taiwan and India.

GTL
Ltd. manufactures telecommunication products, which include fax
machines, modern key telephone systems, wireless mobile telephone
systems, V-Band Viax instant access communication systems etc.

The
acquisition will strengthen the Services of Network Planning and
Design, Network Operations and Maintenance, and Professional Services
of GTL.

The GTL stock was closed on Friday at Rs. 266.90 on NSE,
up by 1.44% from the previous close of Rs. 263.10. The stock touched
intraday high of Rs. 299.95 and low of Rs. 263.10.