VIVAnews - PT Inovisi Infracom Tbk will be implementing the acquisition of three information technology (IT) companies that are Code Wireless Pte Ltd, Abamon Technology Sdn Bhd and Smart Checkers Limited.
Inovisi’s management says in the acquisition material published by IDX in Jakarta on Wednesday, April 21 that the total amount of assets from the three companies reaches Rp 436 billion.
The written statements also read that the plan of business expansions to several countries will go along with the non-organic growth strategy.
Meanwhile, the acquisition will also consider vertical integrations, complementary ventures and overseas production costs that are lower than the expenses of infrastructure in Indonesia.
The acquisition will also attempt to create a synergy, which will improve the competitiveness with affordable prices.
After the acquisition, companies that will be structurally under Inovisi are Fastlane Limited, PT Chiron Max, PT Graha Tunas Makmur, PT Andaman Multi Kreasi and Code Wireless Group.
Below are brief profiles of the companies:
Code Wireless Pte Ltd.
Established in Singapore in September 2004. The parent company of programming service providers, software development companies and IT and internet consultants.
The holder of Code Wireless’ shares is Fastwind Investments Limited (100 percent). The total amount of assets as of January 31 is equal to Rp 180 billion.
Abamon Technology Sdn Bhd.
Established in Malaysia in September 2004, businesses include IT services and solutions provider focusing on international consumers.
The shareholder is Code Wireless Pte Ltd (100 percent). The total amount of assets as of January 31, 2010 is equal to Rp 140 billion.
Smart Checkers Limited
Established in British Virgin Island in April 2008, providing services for security information management, commercial secure database management, network solutions and special infrastructures for small and medium enterprises.
The company also provide database for telecommunication and banks, data hosting, networking, platforms for data transactions and architecture and framework solutions.
The shareholder is Abamon Technology Sdn Bhd (100 percent). The total amount of assets as of January 31, 2010 is equal to Rp 116 billion.
As of January 31, 2010, Inovisi Group’s income has reached Rp 5.53 billion with after-tax profit of Rp 6.18 billion.
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Translated by: Nataya Ermanti
