Mobile-Phone Retailer Erajaya Acquires Laptop Maker Axioo
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Erajaya Swasembada, a listed Indonesian mobile-phone retailer, has bought a majority stake in local laptop manufacturer Axioo International Indonesia, as part of the company’s expansion.
Erajaya signed an agreement on Wednesday to buy 51 percent of Axioo’s shares from Exa Nusa Persada for Rp 5.1 billion ($394,000), the company said in a statement to Indonesia Stock Exchange on Wednesday.
The move follows Erajaya’s acquisition of CG Computers, a Malaysian distributor of Apple products, for Rp 52 billion last year.
Erajaya’s net income fell 6.3 percent to Rp 75 billion in the January-March period from the same quarter las year, despite sales rising 30 percent to Rp 3.9 trillion.
Questions & Answers
Q.What is the reason for Erajaya's acquisition of Axioo?
What is the reason for Erajaya's acquisition of Axioo?
Erajaya Swasembada acquired a majority stake in Axioo International Indonesia as part of the mobile-phone retailer's overall company expansion strategy. This follows a previous acquisition last year.
Q.What was the total cost of Erajaya's acquisition of Axioo?
What was the total cost of Erajaya's acquisition of Axioo?
Erajaya purchased 51 percent of Axioo's shares from Exa Nusa Persada for Rp 5.1 billion, which is equivalent to $394,000. The agreement was signed on Wednesday.
Q.How did Erajaya's financial performance look in the recent quarter?
How did Erajaya's financial performance look in the recent quarter?
Erajaya's net income decreased by 6.3 percent to Rp 75 billion in the January-March period, compared to the same quarter last year. However, sales saw a 30 percent increase to Rp 3.9 trillion.
Q.Has Erajaya made any other acquisitions recently?
Has Erajaya made any other acquisitions recently?
Yes, prior to acquiring Axioo, Erajaya bought CG Computers last year. CG Computers is a Malaysian distributor of Apple products, and that acquisition cost Rp 52 billion.
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