Global financial services group Nomura has invested Rs 125 crore in Morgan Stanley-backed telecom infrastructure firm iBus Group, the Bengaluru-based firm said. The strategic investment will enable iBus Group in the consolidation and transformation of digital infrastructure in wifi-managed services and other value-added services.
The funding will also help expand the iBus Group's presence globally through its subsidiaries in Singapore, Dubai and the US, the company said.
"With this investment, we envision accelerating the convergence of protocols to amplify the experience of digital services for our customers. Currently, digital connectivity infrastructure is skewed towards urban & tier 1 states/cities in India, resulting in a huge digital divide. iBus will now build scale and eliminate inefficiencies to fast track the essential digitalisation of our economy," iBus group, Director and CBO, Subash Vasudevan said.
Nomura Managing Director-Head of Loans and Principal Investments in India Ambrish Singh said the company's investment will allow the iBus to drive consolidation and scale its digital footprint.