Mobile-Phone Retailer Erajaya Acquires Laptop Maker Axioo

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.