“For Australian businesses, businesses across Asia and importantly companies looking to expand and grow in Asia, the combined entity will provide powerful new options for networks and services,” he added.
For the year 2013, Pacnet generated revenues of $472m and EBITDA of $111m. Pacnet operates 109 PoPs across 61 cities in the Asia-Pacific region and 8 cities outside of the region (US and Europe) aimed at both carrier and enterprise customers.
It operates a network of 29 interconnected data centers in 17 cities across the Asia-Pacific region and has Asia’s largest privately-owned submarine cable network, with 21 cable landing stations in China, Hong Kong, Japan, the Philippines, Singapore, South Korea, and Taiwan.
In addition, Pacnet controls two of the five fiber pairs on the Unity trans-Pacific submarine cable network connecting Japan to the United States.
Pacnet has 2,400 enterprise customers with strong penetration of financial services, internet, social networking players, e-commerce, technology and professional services. In the carrier segment, Pacnet has 220 customers comprising both retail and wholesale telecom operators.
The firm has 815 employees across 25 offices (including PBS China) located in 24 cities in 11 countries and regions.
The deal is subject to regulatory approval and expected to complete by mid-2015.