Australia's Telstra has announced (23 December 2014) it would acquire Asian telecommunications and services provider Pacnet Limited, a provider of connectivity, managed services and data centre services to carriers, multinational corporations and governments in the Asia-Pacific region.
The acquisition will include interests in Pacnet's 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. It will also give Telstra 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.
The US$697 million acquisition is subject to completion adjustments. The transaction is subject to regulatory and Pacnet financier approvals and is expected to complete by mid-2015.
Pacnet is headquartered in both Singapore and Hong Kong with 815 employees across 25 offices (including PBS China) located in 24 cities in 11 countries and regions. Its core assets comprise an integrated network of points-of-presence (PoPs), data centres and submarine cables across Asia-Pacific, operated out of delivery centres throughout the Asia-Pacific region.
It 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.
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