Quantcast
Thursday , August 17 2017
Breaking News
Home / International Customs / Australia / Australia’s Telstra buys Pacnet for $697m to boost enterprise market leadership in Asia-Pacific
Australia’s Telstra buys Pacnet for $697m to boost enterprise market leadership in Asia-Pacific

Australia’s Telstra buys Pacnet for $697m to boost enterprise market leadership in Asia-Pacific

MELBOUREN: Telstra has announced it will be acquiring Pacnet Limited, an Asian provider of connectivity, managed services and data centre services for carriers, multinational corporations and governments, for a sum of US$697 million.

The acquisition of the Singapore and Hong Kong headquartered Pacnet includes interests in its China joint venture, PBS, which is licensed to operate a domestic Internet Protocol Virtual Private Network and provide data centre services in most major provinces in China.

Telstra said the acquisition will boost its position in the enterprise market, enabling it to serve more companies and carriers in the APAC region. Further Telstra said the acquisition is aligned to its strategy to increase its presence and expand its markets beyond Australia.

Pacnet will give them ownership of an extensive range of services including software defined networking, an expanded data centre network, more submarine cables and major customers across the region.