Accord Communication acquires Quality Electric

With a view to growing inorganically, Vadodara-based Accord Communication Pvt Ltd has acquired 100 per cent stake in Quality Electric Company for an undisclosed sum.

Accord Communication, a Rs 100 crore telecom networks solution provider, has taken over Rs 10 crore Quality Electric to become engineering, procurement and construction (EPC) company in power sector.

The company feels that there is a huge potential in power transmission and distribution (T&D) business in Gujarat as well as other parts of the country.

The Mehsana-based Quality Electric has full fledged presence in power transmission and distribution sector, which includes laying of transmission lines and erection of electric sub-stations on EPC basis.

Informing that Quality Electric is now functioning as a separate profit centre of Accord, Betulla Khan, MD, Accord Communication said that acquires have to face many challenges with regard to human resources and pending execution of work orders of the company acquired.

In order to overcome this issue, Accord has appointed Nitin Patel, the owner of Electric Quality as an executive director of the acquired company, which has become a division of Accord Communication.

"The acqusition will help Accord increase its valuation. After having strengthening its presence in both telecom and power sector, the Vadodara-based company is looking at inorganic growth by joining hands with domestic and foreign strategic partners," said Sanjeev Shah, founder of Sanjeev Shah & Associates, chartered accounts, which has acted as an advisor to the deal.

Established in 2003, Accord Communication offers for planning, design, installation and commissioning including operations and maintenance for all types of telecommunication solutions.

The services include site survey to site acquisition and tower supply to tower erection coupled with civil works.

The company also provides its solutions for WLL projects and WIMAX implementation. Accord serves as a turnkey solution provider (TSP) to telecom players like Aircell and WTTL, a Tata company.

Its customers include GETCO, Punjab and Maharastra State Elec. Boards, Indus Tower, Bharti Infratel, Vodafone, Idea, Nokia Siemens network, Reliance Communications, BSNL, Alcatel, Quippo etc.