You Telecom, (previously known as Iquara broadband from British Gas) today announced the acquisition of Ahmedabad-based Internet service provider (ISP), IceNet.
StartupAvenues has eralier reported this event on 14th April 2007 (GVFL make an exit from Icenet?) and broke the news first.
IceNet has established itself as the country’s first and Gujarat’s largest registered ISP in the private sector, with a strong hold on VoIP solutions, primarily data and voice. However going was expected to be very tough as slowly and slowly Telecos led by Bharti have been steadily capturing the market by providing internet services.
Icenet was started by first generation entrepreneur Chirag Mehta who launched Gujarat first ISP in early 2000 and catapulted it to the first position in Gujarat in a short span of time. Icenet has received investment from GVFL.
Iquara which was launched in India around 2002 by British Gas, has been renamed as You Telecom after investment of Citigroup Venture Capital International (CVCI) and seems to be in expansion mode by following its strategy of inorganic growth as experienced in Latin America.
It is rumored that You Telcom might be looking at Delhi based ISP Spectanet as well.
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