Monsoon Mobile Wedding

  • mar. 2007

The latest mobile telephone networks can suffer badly from extreme
weather conditions unless highly-skilled engineers are managing
them on a minute-by-minute basis. The recent sale of Genesis
Consultancy, the UK-based provider of such network management
services, to an Indian telecoms group means the UK market leader
will soon be providing the same peace of mind to Indian mobile
phone users .

Eager buyers from Britain, America, Continental Europe, Australia
and Singapore all expressed interest in acquiring Genesis, but
Livingstone’s Indian Global M&A partner, Meghraj,
suggested a potential purchaser with a compelling strateigic
rationale.

According to Livingstone deal leader Daniel Domberger, Mumbai-based
GTL Ltd was “the perfect buyer, offering the most compelling
strategic fit” – a group with a wealth of resource that would
help Genesis’s highly-skilled technical staff capture further
managed services opportunities around the world.

David Edmonson founded Genesis in 2000, to support network
deployment and ongoing services with highly-skilled
telecommunications staff, and immediately established a strong
relationship with Nokia. Two years later, the first 3G engineers
were initially deployed to work on integrating network elements
and, over the following two years, Genesis expanded rapidly in the
UK and Asia-Pacific regions, and then into the USA.

A move to a new building in Huntingdon, Cambridgeshire, and the
development of its NIOSC (network integration and operations
service centre) gave Genesis the capacity to continue to grow at
over 50% per year.

Having locked Genesis into a steep growth curve Mr Edmonson sought
the help of Livingstone to identify a complementary partner that
could continue to develop the business and help capture new
opportunities in the increasingly global managed services
market.

Following a worldwide research exercise through Global M&A, the
international partnership of independent investment banking
boutiques, Domberger worked with Global M&A’s Indian
partner Meghaj – also based in Mumbai – to bring the deal to
fruition.

He says: “We believe this is going to be the shape of
things to come, as global resources are used to service local
opportunities. GTL has tremendous technical capacity which it can
now deploy in previously-closed markets. Genesis has a strong
relationship with Nokia, which it can now exploit to the full. We,
and our Indian partners, are expecting more cross border deals in
this direction in the coming months”.

David Edmondson comments: “Livingstone and Meghraj did an
excellent job- initially to find a perfect strategic buyer – and
then to guide us through the process. It was quite a challenge,
given the cultural differences and the distances involved.
”Daniel’s hard work made the whole thing much easier for us.
He understood the business well, and was always working to improve
our position and keep things moving. Without him, we couldn’t have
got such a great deal for both parties. Furthermore, having Meghraj
on the ground in Mumbai meant we also had someone local to speak to
when we needed it”.

Rahul Desai, Head of Risk Management at GTL adds:
“Livingstone ran a very professional process. This
was our first acquisition as a team, although we hope to make more,
and even though they were on the other side, Livingstone’s project
management helped us complete on time”.

Gordon Blair, Partner
Tel: 020 7484 4700
Email: gblair@livingstonepartners.co.uk

Daniel Domberger, Deal Leader
Tel: 020 7484 4700
Email: ddomberger@livingstonepartners.co.uk


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