V.tal Acquisition, Valuation, Funding & Investors

Cornerstone is a provider of end-to-end services for telecommunications infrastructure, including site design, acquisition, construction, project management, and maintenance. Headquartered in the United States, it supports wireless carriers and tower companies with deployments in North America and Europe.

HFCL Ltd is an Indian manufacturer and exporter of optical fiber cables and broadband equipment for the telecommunication industry. Firm business segments include Telecom Products and Turnkey Contracts Services. The Telecom Product segment produces optical fiber cable, optical fiber, and telecom equipment. The Turnkey Contracts and services segment is engaged in delivering telecom infrastructure and communication network systems for Telecom Operators, Defence Services, Railways, Safe and Smart Cities, etc. The firm's products and solutions include Fiber optics, Telecommunication, Defence, and Passive Networking Components. It generates substantial revenue from the sale of turnkey projects and related activities.

China Communications Services Corp Ltd is active in the technology sector. It provides integrated comprehensive solutions for the informatization and digitalization sector. It provides integrated solutions, including telecommunications infrastructure services, business process outsourcing services as well as applications, content, and other services to telecommunications operators, government agencies, industrial customers, and small-and-medium enterprises. The Company principally has one operating segment, which is the provision of integrated comprehensive smart solutions in the field of informatization and digitalization.

Telenor Fiber is a Norwegian infrastructure company building and operating passive optical networks for high-speed broadband delivery. As a subsidiary of Telenor Group established in 2021, it focuses on fiber rollout in underserved regions of Norway, partnering with local municipalities for last-mile connections. The firm manages wholesale access to its dark fiber assets, enabling ISPs to offer gigabit services to homes and businesses. Telenor Fiber's projects include expansions in Trøndelag and Northern Norway, supporting national broadband coverage goals.

Huber& Suhner AG is a Switzerland-based company that designs and creates connections for data and power transmission. It specializes in electrical and optical connectivity components and system solutions that deliver high performance, quality, reliability, and a long service life even under the toughest of conditions. The company has three reportable segments Industry, Communication, and Transportation. It generates the majority of revenue from the Industry segment. Its product portfolio includes radio frequency and microwave products; fiber-optic products involving ultra-high data transmission speeds; low-frequency products such as databus, signal, and power cables; and passive components such as cables, connectors, assemblies, and antennas.

Comsys Holdings Corp installs electrical and telecommunications facilities and equipment. The company operates through the Comsys Information Systems Group segment, Hokuriku Telephone Construction Group segment, NDS Group segment, Nippon Comsys Group segment, SYSKEN Group segment, Sanwa Comsys Engineering Group segment, TOSYS Group segment, Tsuken Group segment, and Others segment. It generates the majority of its revenue from the Nippon Comsys Group segment, which is engaged in the construction of telecommunications facilities focusing on the Nippon Telegraph and Telephone Corporation (NTT) group.

Helios Towers PLC is a United Kingdom-based company that provides telecommunications towers and infrastructure. The company offers tower-related operational services, including site selection, site preparation, maintenance, security, and power management. The solutions offered by the company include Colocation, Build-to-suit, In-building solutions, Managed Services, and others.

Axiata Group Bhd is a telecommunications company. The business segment of the company is the Mobile segment, which includes the provision of mobile services and other services such as the provision of interconnect services, sale of devices, pay television transmission services, broadband services, digital business, and others; the Fixed broadband segment is engaged in the broadband and broadcasting business; Infrastructure segment is engaged in the provision of telecommunication infrastructure and related services; and Others comprise investment holding entities, financing entities and other operating companies providing other services including digital business and fibre optic transmission. The company has a presence in Malaysia, Indonesia, Bangladesh, Sri Lanka, Nepal, and Cambodia.

XpFibre, originally incorporated as SFR FTTH, is a French wholesale fibre-to-the-home infrastructure operator. The company was carved out of Altice France in late 2018 to hold the fibre networks that SFR had been awarded in medium- and low-density areas of France under public initiative and private rollout schemes. In March 2019 a consortium led by OMERS Infrastructure with Allianz Capital Partners and AXA IM Real Assets bought 49.99 percent of the company for EUR 1.7 billion, with Altice France keeping 50.01 percent. At that point the network covered about one million homes with a plan to reach five million, and the company acquired the rival wholesale operator Covage in December 2020, after which it was renamed XpFibre. XpFibre deploys, operates and maintains fibre networks and sells access on a wholesale basis to all retail internet service providers, including SFR, Orange, Bouygues Telecom and Free. It is one of the largest alternative fibre wholesalers in France, with a footprint of well over seven million connectable premises across several thousand municipalities, and it is headquartered in the Paris region.

NetLink NBN Trust is a national provider of internet service. It designs, builds, owns, and operates network infrastructure comprising ducts, manholes, and fiber cables. Its non-building address point (NBAP) applications include infrastructure for telecommunications operators such as wireless network base stations, cameras, sensors, signage, and outdoor kiosks. The company generates the majority of its revenue from Installation-related revenue and Ancillary project revenue. The company operates in Singapore, the USA, the UK, and the rest of the World.

IHS Holding Ltd is an independent owner, operator, and developer of shared telecommunications infrastructure. The company provides telecommunications infrastructure to its customers, who are MNOs, who in turn provide wireless voice and data services to their end-users. Its geographical segments are Nigeria, Sub-Saharan Africa, the Middle East and North Africa (MENA), and Latin America (Latam). The majority of its revenue is derived from Nigeria.

Sterlite Technologies Ltd is an Indian-based company engaged in the business of Connectivity and Network Solutions. Its products and solutions mainly include integrated optical fiber, copper telecom cables, structured data cables, access equipment, fiber connectivity and system integration solution offerings for telecom networks, OSS/ BSS solutions, billing and bandwidth management solutions for organizations, and others. Its segments include Optical networking business (ONB), Global service business (GSB) and Digital and technology solutions (Digital). The company offers its services within India and in the International market. It earns majority of the revenue from Optical networking business segment.

Reintel operates dark fibre telecommunications infrastructure in Spain. Its network provides connectivity capacity to telecommunications operators and other customers that require dedicated fibre infrastructure. The company offers backbone network services for long distance connections, dedicated cable solutions, equipment housing and customized network arrangements. It manages fibre routes associated with electricity transmission infrastructure and railway corridors, giving it extensive geographic coverage. Reintel was established as the Red Electrica group’s telecommunications infrastructure subsidiary and later became jointly owned by Redeia and KKR. Its neutral network model allows customers to use the physical fibre infrastructure for their own communications services and capacity requirements across Spain.

Plume Design is a Palo Alto-headquartered SaaS platform that powers Wi-Fi services for over 60 million homes worldwide. Communications service providers like Rogers Communications and Frontier Communications use its cloud-managed solution to deliver adaptive Wi-Fi, parental controls, security features, and device optimization. The platform integrates with OpenSync for multi-vendor hardware support and provides operators with analytics dashboards for network management. Founded in 2015, Plume serves more than 200 service providers across North America, Europe, and Asia.

Array Digital Infrastructure, formerly US Cellular, sold its regional wireless operations serving about 4.4 million customers to T-Mobile in August 2025. The firm has agreed to sell most of its remaining spectrum licenses; however, it will still retain rights to C-band spectrum in several locations after these deals are closed. Array also owns a 5.5% stake in Verizon Wireless' Los Angeles operations, as well as other smaller wireless partnership interests in Oklahoma and upstate New York. The firm still operates a portfolio of about 4,400 wireless towers.

Digital InfraCo is a Singtel-led joint venture developing digital infrastructure across Asia, Europe, and the US. The consortium focuses on subsea cables, data centers, and 5G networks, with initial projects including the Echo and SeaMeWe 6 cable systems linking Singapore to Europe. Digital InfraCo partners with CDPQ Infra and Gulf Investment Corporation to invest tens of billions in high-capacity connectivity.

Operadora De Sites Mexicanos SA de CV is engaged in building, installing, maintaining, operating, and marketing, various types of towers and other support structures, as well as physical spaces and other non-electronic elements for the installation of radiating radio communications equipment.

Amplitel is Australia's largest mobile tower infrastructure provider, created in June 2021 when Telstra completed the sale of a 49 per cent non-controlling interest in its InfraCo Towers business to a consortium of the Future Fund, Sunsuper and Commonwealth Superannuation Corporation managed by Morrison and Co. The Telstra InfraCo Towers entity was renamed Amplitel Pty Ltd on completion. It owns an asset portfolio of more than 8,000 physical towers, masts, large poles and antenna mounts and provides space on them to mobile carriers, government and public and private organisations across Australia. Telstra kept 51 per cent ownership and the active parts of its network, including the radio access network and spectrum, and agreed to return about half of the net proceeds from the sale to shareholders through a buy-back. Telstra's chief executive noted that the towers business has foundations more than 100 years old.