XLSmart officially launched as Indonesia's third-largest telco
XLSmart, the company created by the merger of XL Axiata and Smartfren Telecom, has announced its official launch in Indonesia, becoming the country's third-largest operator by subscriber base with 94.5 million customers.
A new group of directors and a new board of commissioners, a mixed team of executives from the two legacy organizations, have also taken office, XLSmart said in an announcement last week.
The combined entity, to be called XLSmart Telecom, will be Indonesia's third-largest operator by subscriber base, behind market leader Telkomsel and Indosat Ooredoo Hutchison (IOH).
"We bring together the complementary strengths of XL Axiata and Smartfren under a unified leadership and shared vision – setting the pace for Indonesia's digital progress," said XLSmart President Director and CEO Rajeev Sethi. "This isn't just a merger. It's a leap forward for Indonesia's digital ecosystem."
He added that XLSmart will serve mobile and home broadband customers through its XL, AXIS and Smartfren brands, while XLSmart for Business will serve SMB and enterprise customers.
According to XLSmart, the company will begin operations with a combined market share of 25% and projected pro forma revenues of 45.8 trillion Indonesian rupiah (US$2.47 billion) as of December 2024.
People-centric telco
Sethi said the newly formed XLSmart will redefine connectivity, drive innovation and improve customer experience across Indonesia.
"Our focus remains crystal clear: our customers," he said. "We're building a company that listens better, moves faster and serves smarter. Whether in big cities or rural areas, XLSmart is here to ensure that every Indonesian has access to the tools, networks, and experiences that matter."
Axiata and Smartfren owner Sinar Mas agreed to merge their Indonesian telecom operations four months ago in a deal valued at IDR 105 trillion ($6.5 billion). The merger is the final step in market consolidation and has been seen as almost inevitable since Indosat and Ooredoo Hutchison formed IOH more than three years ago.
XL Axiata and Smartfren shareholders approved the merger of the two companies at their separate extraordinary general meetings (EGMs) held in Jakarta last month.
