XLSmart Officially Becomes Third Largest Telecom in Indonesia

XLSmart, formed by the merger of XL Axiata and Smartfren Telecom, announced its official establishment in Indonesia, becoming the country’s third-largest user group operator with 94.5 million users.
XLSmart announced in a statement last week that a new board team and new board members have also taken office, consisting of a mixed team of executives from two traditional institutions.
The merged entity will be named XLSmart Telecom, which will become the third largest operator in Indonesia in terms of user base, after market leaders Telkomsel and Indosat Ooredoo Hutchison.

Rajeev Sethi, President and CEO of XLSmart, said, “We have integrated the complementary strengths of XL Axiata and Smartfren under a unified leadership and shared vision, laying the foundation for digital progress in Indonesia. This is not just a merger. It is a leap forward in Indonesia’s digital ecosystem.”
He added that XLSmart will serve mobile and home broadband customers through its XL, AXIS, and smartfriend brands, while XLSmart for Business will serve small and medium-sized enterprises and enterprise customers.
According to XLSmart, as of December 2024, the company will begin operations with a 25% market share and is expected to generate an estimated revenue of INR 4.58 trillion (USD 2.47 billion).

Human centered telecommunications company

Sethi stated that the newly established XLSmart will redefine connectivity, drive innovation, and improve customer experience in Indonesia.
He said, “Our focus remains very clear: our customers. We are building a company that is better at listening, faster in action, and smarter in service. Whether in big cities or rural areas, XLSmart is here to ensure that every Indonesian has access to important tools, networks, and experiences.”
Four months ago, Sinar Mas, the owner of Axiata and Smartfren, agreed to merge their telecommunications businesses in Indonesia, with a transaction value of IDR 105 trillion (USD 6.5 billion). This merger is the final step in market consolidation, which has been almost seen as inevitable since Indosat and Ooredoo Hutchison established IOH over three years ago.
The shareholders of XL Axiata and smartfriend approved the merger of the two companies at the extraordinary shareholders’ meeting held in Jakarta last month.