Logicalis to acquire majority stake in Packet Systems Indonesia
JSE-listed Datatec has set its sights on another acquisition to integrate into its platform, this time that of a majority stake in information and communication technology (ICT) systems integrator and service company Packet Systems Indonesia (PSI).
The ICT giant’s Logicalis subsidiary will acquire 54% of PSI for $6.8-million, while its Indonesian partner Metrodata will acquire a 14% stake. The remaining 32% will be maintained by PSI management shareholders.
“This acquisition is strategically important for Logicalis as it will serve to enhance its operations beyond Indonesia and across the Asia-Pacific region.
“Blending Logicalis’ methodology and experience with PSI’s scale and customer reach will bring wider scale and customer relationships across a number of high-growth regional markets,” explained Datatec CEO Jens Montanana in an update to shareholders on Tuesday.
The group plans to merge the new asset with existing Logicalis Indonesian operation Logicalis Metrodata Indonesia to add scale, while leveraging PSI’s telecommunications skills and experience in other Logicalis locations across the region.
Logicalis’ newly established Singapore-based Security Managed Service will support new service offerings to customers in Indonesia.
The 240-employee PSI, established in 2004, boasted revenues of $77.4-million in 2016, with profit before tax of $4.9-million and held net assets of $11.1-million as at December 31, 2016.
The deal is expected to be concluded during the third quarter of this year.
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