CITIC Telecom to acquire Acclivis
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Hong Kong’s CITIC Telecom International has expanded its presence in Southeast Asia with the acquisition of a 100% stake in cloud infrastructure services provider Acclivis.
Acclivis mainly operates cloud facilities in the markets of Singapore, Indonesia, Malaysia and Thailand. The company also owns the ISP Pacific Internet in Singapore and Thailand.
CITIC Telecom said the acquisition will transform the company into one of the few trans-regional one-stop ICT services providers in Southeast Asia, and will create synergies with the company’s subsidiaries including CITIC Telecom CPC.
“Acclivis is a technology company that has strong technological capabilities and unique advantages. It operates internet service via Pacific Internet in the region and its businesses and the services we offer to our corporate customers have apparent strategic synergies,” CITIC Teleom CEO Dr Lin Zhenhui said.
“The acquisition will enable us to expand our services to internet service, cloud computing and management services, support our transformation geared towards the mobile and internet arenas and expansion of the Southeast Asia market, giving us another rapid growth driver.”
The deal still requires the approval of Acclivis parent DeClout, but pending this is expected to be completed by the end of the year.
CITIC’s current development strategy is focused on “taking roots in the Mainland market while accelerating expansion and geographic coverage in the international market with Hong Kong and Macau serving as bases and connections.”
Questions & Answers
Q.What kind of services does Acclivis provide in Southeast Asia?
What kind of services does Acclivis provide in Southeast Asia?
Acclivis primarily operates cloud facilities across Singapore, Indonesia, Malaysia, and Thailand. It also owns the internet service provider Pacific Internet in Singapore and Thailand.
Q.How will this acquisition benefit CITIC Telecom's business strategy?
How will this acquisition benefit CITIC Telecom's business strategy?
The acquisition will help CITIC Telecom expand its services into internet, cloud computing, and management services. It supports their transformation towards mobile and internet arenas, and growth in Southeast Asia.
Q.Is the acquisition of Acclivis by CITIC Telecom already finalised?
Is the acquisition of Acclivis by CITIC Telecom already finalised?
No, the deal still requires approval from Acclivis's parent company, DeClout. However, it is expected to be completed by the end of the year if approved.
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