GX Group acquires Ping Communication; eyes $50 million business in LATAM

Telecom gear maker GX Group has acquired Switzerland-based broadband and fiber solution provider Ping Communication to expand its presence in Europe, the Middle East and Latin America, the company said on Friday.

GX Group, CEO, Paritosh Prajapati in a statement said the company will leverage its “Made in India” products to compliment existing portfolio of Ping Communication and thereby scale up the revenue to $50 million, about Rs 430 crore, in the next two years in Latin America (LATAM) region.