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[April 23, 2014]
South Africa : IHS HOLDING raises additional $130M to expand [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) A telecommunications infrastructure firm, IHS Holding, has announced that it had raised an additional $130m to fast-track its plans to expand into new and existing markets.
The company acquires and manages the mobile towers of wireless carriers. Wireless carriers decrease their exposure to expensive infrastructure, by selling towers to firms such as IHS and American Tower Corporation.
The latest financing by IHS adds to the $490m of debt and equity that it secured in March.
The company would use the money for acquisitions and investment in new telecommunications infra-structure.
Vice-chairman and CEO of IHS, Issam Darwish, said the money would "allow us to continue investing in technology, coverage and capacity new build sites, and the growing human resource component that will help IHS continue to provide a quality service and product to an expanding customer base in Africa".
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