Mumbai: Wireless telecommunication service provider GTL is embarking on a Rs1,000 crore acqusition plan in the telecom services space to enhance its services offering.

GTL is close to acquiring four overseas firms in the next two quarters. The company is doing due diligence for four overseas companies in Europe, the US and Asia Pacific, investment banking sources said.

These acquisitions would be made in segments like network planning management, infrastructure management and network deployment, sources said.

GTL recently acquired Genesis Consultancy, a UK-based network services provider, for $9 million (over Rs40 crore) to enhance its third generation (3G) mobile capabilities.

The company is said to be focusing on the telecom space and plans to exit the non-telecom business.

GTL is planning to exit from its IT managed services division and BPO unit.

The company has been eyeing turnkey projects for mobile operators and equipment vendors.

GTL recently hived off its cellular tower business into a separate company GTL Infrastructure. This division builds telecom towers and leases it out to mobile operators for fixed rentals.

Reports, meanwhile, said France Telecom is set to acquire GTL''s IT business for about Rs250-300 crore. The acquisition, to be made through France Telecom''s business arm, Orange Business Services, would mark the group''s first acquisition in India.