Bahraini alternative telecoms provider Kalaam Telecom has become the country’s second largest business ISP after acquiring Lightspeed Communications from Jordan Telecommunications, which counts Orange as a major investor.
Kalaam said the move has strategically increased its fixed business broadband market share to 17 per cent, giving it more than 4,000 customers across all business segments. Incumbent operator Batelco is the market leader.
Nezar Mohammed Al Saie, chairman of Kalaam Telecom, said the deal marked the first M&A transaction in Bahrain’s telecom history.
“Accelerating our growth plans is a top priority. With the acquisition, Kalaam’s revenues stand to immediately double and provide significant profitability. This transaction will augment our ability to offer best-in-class products and solutions in the Bahrain and allow Kalaam to embark towards realising our strategic vision to be a leading Internet Service Provider in Bahrain as well as a major player in the region within the next three years,” he said.
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21 October 2016 @ 16:47:35 UTC