Wednesday, December, 11, 2019 10:36:05

HKBN Ltd., a Hong Kong-based telecommunication company announces its takeover as it has engaged into a Share Purchase Agreement with JTH Limited. In accordance with the same, through its solely possessed subsidiary, it has come up with conclusion to acquire entire equity interest of JTH in Jardine OneSolution Holdings Limited and its subsidiaries. These subsidiaries Adura Cyber Security and Adura Hong Kong are acquired for a cash consideration of US$50 million.

JOS is a leading system integrator and IT solutions provider and technology consultant in Asia. As per sources close to HKBN, the acquisition of JOS is expected to strengthen the company’s work proposal. Along with that it will also help in reinforcing HKBN’s position in the system integration and connectivity space.

Reportedly, through the takeover, it will also deliver considerable value creation opportunities with revenue collaboration from scale efficiencies and will also induce cross-selling to both entities’ broad customer bases.

Apparently, JOS has a glorious history of over 60 years and technology professionals around 2,000 across Asia, of whom 1,100 are present in Hong Kong. It offers a leading expertise in network services and IT infrastructure, as well as digital and security solutions. It is aiding customers around 10,000 from the public and private sectors to take benefit of the latest information and communication technologies.

As per reports, Billy Yeung, Co-Owner and CEO, Enterprise Solutions was stated saying that subsequently after the completion of its WTT combination dated on 30 April 2019, it has met around 100 of its topmost enterprise customers to learn about their opportunities and the critical pain points. With this meetup, it has been concluded that these customers have similar desire of one-stop-shop ICT solutions partner.

Additionally, he stated that after the acquisition of JOS, the company has listened and is willing to act according to the need of all the customers which is to maintain a single point of contact.

Source: https://markets.businessinsider.com/news/stocks/hkbn-announces-proposed-acquisition-of-jos-1028468242