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.”