Hyderabad: Bengaluru-based Atria Convergence Technologies (ACT) plans to bring its Hyderabad-based fibre optic broadband service Beam Fiber under its newly launched national brand ACT Fibernet, the top official of the company said.
“As part of our overall group plan, we wanted to create a national brand and bring all our services under it. In all cities (except Hyderabad) that we operate in, our company works under ACT brand. In Hyderabad, the largest market for our broadband service, we are known as Beam. As our company goes national, we want to bring all our products under the common brand, ACT Fibernet," said ACT CEO Bala Malladi.
ACT, which acquired Beam in 2006, is the largest broadband service provider in Hyderabad, with a market share of 65 per cent. It is also present in Bengaluru and Chennai markets.
Backed by Mumbai-based private equity firm India Value Fund, ACT has recently crossed half million customers and is expected to touch one-million subscriber mark, with a revenue of Rs 1,000 crore, by 2016. In financial year 2014, the company posted a revenue of Rs 500 crore.
Observing that there is a huge market opportunity in Bengaluru and Chennai, where ACT has not yet become the market leader, Mr Malladi said that the company would focus on pentrating deeper into these markets instead of spreading too thin by entering new cities. The funding for capex, the CEO added, would be met by the current investors....