GX Group Takes Over Ping Communication, Targets $50 Mn LATAM Market

GX Group, a telecom equipment manufacturer, has acquired Ping Communication, a Switzerland-based broadband and fiber solution provider, to expand its presence in Europe, the Middle East, and Latin America, the company announced on Friday.

Paritosh Prajapati, CEO of GX Group, stated in a statement that the company will use its "Made in India" products to supplement Ping Communication's existing portfolio, increasing revenue to $50 million (about Rs 430 crore) in the Latin America (LATAM) region over the next two years.

However, the company did not disclose the transaction's financial details.

"After six months, Ping Communication will join GX Group. Ping Communication's current revenue is about USD 30 million. 

By supplementing its portfolio with our 'Made in India' products, we expect to increase revenue to USD 50 million by 2026," he stated.

"This acquisition represents a significant milestone in our 'Make in India for the World' initiative. LATAM is one of the most active Fiber To The Home (FTTH) markets after Asia, and this move positions GX to become a dominant force," he stated.

The agreement positions GX Group at the forefront of the LATAM broadband revolution, with WiFi 6 and WiFi 7, cloud-managed CPE (Customer Premises Equipment), and AI-powered OSS platforms to be deployed across open access and private operator networks, according to the statement.

According to Prajapati, Ping Communication has a 20-year history of delivering broadband gateways, Voice over Internet Protocol (VoIP) adapters, fiber CPEs, and remote monitoring and management systems. The company is currently one of the largest volume suppliers in the LATAM Broadband equipment market, serving top-tier accounts such as TELMEX and America Movil (AMX).

GX Group, formerly known as Genexis, began operations in 2002 and had expanded its business across India by 2013, when it acquired Ericsson end-user equipment parts from Sweden.

Genexis was given a new brand identity and renamed GX Group in 2018.