NEW YORK, Nov. 24 /PRNewswire/ -- TCM MOBILE LLC (www.tcmmobile.com) announced today it has entered into a definitive agreement to license its patented telecommunication technology to an Indian Joint Venture which plans to launch the world's first commercial Cellular VoIP operating network in India. The new company is a joint venture partnership between GANTON India Private Limited (www.ganton.in) and several Indian and International partners, including an investor group from TCM MOBILE.
The joint venture will commit several million US dollars to deploy and operate the network, and is currently securing substantial credit lines for the purchase of all related equipment. The projected capital expenditure is US $300 million. The network will target service for 500,000 subscribers with capacity to expand into millions of subscribers in other cities as per rollout plans. Mr. Sanjiv Kapoor, currently CEO of GANTON India Private Limited and a veteran telecommunication executive instrumental in launching various technology projects over the years throughout India, has been appointed CEO of the joint venture company.
The total network build-out will be deployed in stages over a 3 year period. It will include 5,000 site locations providing an initial coverage area of a significant portion of Delhi and the National Capital Region of Delhi. This will be followed by category "A" and "B" Indian Cities to ultimately yield an entire pan-India footprint with a targeted subscriber base of 100 million subscribers
"The Indian Market offers an immense opportunity not only for generating revenue for our organization, but also offers significant value additions in terms of image enhancement of the existing service providers," said Mr. Kapoor. "The launch of our revolutionary network will contribute greatly towards the GDP growth of India, in line with our National Telecom Policy's key objectives. This forward looking, technically advanced network will help create an international image in the eyes of various investors worldwide for the Indian market," continued Mr. Kapoor.
GANTON India Private Limited is a subsidiary of GANTON Limited, a multinational technology & investments company with presence in India, UK, Sweden, Switzerland, Romania and Hong Kong, headquartered in New York, with a group net worth in excess of US $500 million dollars.
TCM MOBILE LLC is a US based technology company which has developed a revolutionary, patented Cellular VoIP technology delivering all forms of mobile telecommunication services such as Voice, Data, Video and Location-Based Advertising ("Pop Up" format) and pinpoint location functionality, via one mobile device.
As part of the joint venture, Chinese telecom equipment supplier ZTE Corporation will expand upon its supplier relationship with GANTON and is keen to provide related equipment for the build-out and deployment of the operating network. ZTE Corporation employs approximately 50,000 people worldwide, with revenues exceeding US $8 billion dollars. It has established commercial partnerships with over 500 operators in Asia Pacific, South Asia, North America, Europe, Latin America, Africa and the Commonwealth of Independent States.
The Indian joint venture project hopes to contribute to India's targeted Cellular subscriber goal of 900 Million by the year 2012, increasing the Indian consumer's overall confidence in its service providers along the way.
SOURCE TCM MOBILE LLC