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Axiata Takes Majority Stake In Thai IT Solutions Company

2017-05-15

KUALA LUMPUR: Axiata Group Bhd is acquiring a 65% stake in Suvitech Co Ltd, a Thailand-based owner and operator of a mobile virtual network enabler (MVNE) platform, for “up to” US$11.05mil (RM47.78mil).

Through its MVNE platform, Suvitech provides sales/dealer management, products/pricing and provisioning, and billing for consumer, enterprise and Internet of Things (IoT) services, Axiata told Bursa Malaysia.

Axiata saw the proposed purchase in Suvitech as both strategic and synergistic, as Suvitech’s platform was a plug and play solution for unit Axiata Business Services Sdn Bhd’s (ABS) enterprise and IoT business in Thailand.

“Suvitech’s’s MVNE business also fits perfectly into the mobile virtual network operator/enabler (MVNx) strategic pillar of ABS and will provide solid grounds for future growth,” it said.

Axiata said Suvitech’s MVNE platform was fully integrated with a major mobile network provider in Thailand, providing full suite services to a mobile virtual network operator (MVNO). The MVNE platform can also be customised to suit the needs of customers.