Axiata Business Services Sdn Bhd (ABS), a wholly-owned subsidiary of Malaysian telecom conglomerate Axiata Group Bhd, is acquiring a 65 per cent stake in Thai IT solution provider Suvitech for $11.05 million.
Suvitech owns and operates a mobile virtual network enabler (MVNE) platform to provide sales/dealer management, products/pricing and provisioning, and billing for consumer, enterprise and IoT services.
Axiata cited, in a filing to Bursa Malaysia on Monday, the proposed acquisition would be strategic and synergistic for ABS as Suvitech’s platform was a plug-and-play service for ABS enterprise and IoT business in Thailand.
“Suvitech’s MVNE business also fits perfectly into the mobile virtual network operator and enabler strategic pillar of ABS and will provide solid grounds for future growth,” said Axiata.
The company’s MVNE platform is fully integrated with a major mobile network provider in Thailand, providing full suite services to a mobile virtual network operator, and can be customized to meet the customers’ needs.
The acquisition will be funded through internally generated funds.