Macquarie Capital completed the acquisition of a majority stake in CloudExtel.

Macquarie Capital, a corporate advisory, capital markets, and principal investment arm of Macquarie Group, completed the acquisition of a majority stake in CloudExtel, a network as a service provider. Financial terms were not disclosed. “With the rapid growth of digitalisation, better network coverage and capacity is essential to enabling people to stay connected. We are excited to leverage our global experience to support CloudExtel in expanding their telecommunications portfolio as well as enhancing the quality and effectiveness of connectivity for local communities across India," Ivan Varughese, Macquarie Capital Senior Managing Director and Head of Infrastructure and Energy Capital.