ISP assets, business of Pacnet to be acquired
The SGX Catalist-listed DeClout has signed a deal to acquire the ISP assets and business of Pacnet Internet in Singapore and Thailand.
- Posted 08 Nov 2015 15:06
SINGAPORE: IT infrastructure and cloud computing company DeClout has signed a deal to acquire the internet service provider (ISP) assets and business of Pacnet Internet in Singapore and Thailand.
In a press release issued on Sunday (Nov 8), SGX Catalist-listed DeClout said it hopes the acquisition will expand its regional reach in South-east Asia and expand the customer base for its information technology and telecommunications products.
Under the proposed acquisition, DeClout's subsidiary Acclivis Technologies and Solutions will, through its subsidiary, OSINet Communications, acquire assets - including the Pacific Internet trade marks in Singapore - of Pacnet Internet Singapore's ISP business for S$2.3 million.
The completion of this transaction is subject to regulatory approval from the Infocomm Development Authority of Singapore.
Meanwhile, Acclivis Technologies (Thailand), an indirect subsidiary of DeClout, will acquire the entire share capital of Pacnet Internet Thailand for US$2.1 million.
If the acquisition is approved, the acquired assets will be merged with Acclivis' existing ISP business, OSINet, and together be rebranded as Pacific Internet. This will allow Acclivis "to broaden its offerings and achieve further economies of scale in the ISP segment", said DeClout.
The acquisition is expected to bring in more than 3,000 customers.
The proposed acquisition will also allow Acclivis to become a licensed operator in Thailand with the relevant ISP and telecommunications business licenses to expand its cloud business there, the press release said.
DeClout said these licenses will allow Acclivis and other DeClout business units to offer new services in Thailand in the business-to-business and business-to-consumer space and beyond.