Shyam Group, a leading telecommunications group, has sold its privately held Ubico Networks to iBus Networks & Infrastructure for nearly Rs 100 crore.

Shyam Group will focus on its other core businesses which include Shyam Spectra and VNL. Shyam Group plans to expand the presence and strengthen the portfolio of offerings in the group’s network-as-a-service company Spectra.

Ubico is India’s first and largest independent neutral-host infrastructure provider of in-building and in-campus coverage solutions. Ubico is founded in 2007 by Udit Mehrotra and Nitin Mehrotra. Ubico pioneered the neutral-host in-building Distributed Antenna System (DAS) infrastructure sharing in India and its model has since become an industry-standard in the country.

Ubico currently covers over 200 million sq. ft in 42 cities with an average tenancy of 1.5 spread across 600 buildings and campuses. Ubico’s spread includes hotels, hospitals, IT parks, commercial office space, malls and educational institutes, with many leading real estate developers.

Shyam Group was founded by Rajiv Mehrotra in 1974 and promoted by Rajiv Mehrotra, Ajay Khanna, and Alok Tandon.