Telstra completes $697m purchase of Pacnet
Telstra has completed the $697 million acquisition of Pacnet in a deal that has doubled the operator's customer base in Asia.
Australia-based Telstra now plans to integrate Pacnet into Telstra and progressively retire the Pacnet brand.
The company revealed it will continue the development of Pacnet Business Solutions, a joint venture in China which recently secured licenses to offer IP-VPN services and data center network services in the market.
Pacnet's US assets will meanwhile be integrated into Telstra's operations once regulatory approval is received.
“The addition of Pacnet’s staff, infrastructure, technology and expertise will position Telstra as a leading provider of services to multinational and large companies in Asia,” commented Telstra group executive for global enterprise and services Brendon Riley.
“The completed acquisition will double Telstra’s customers in Asia, and greatly increase our network reach and data center capabilities across the region. This includes the addition of the largest privately owned intra-Asia cable network, 29 data centers and the ability to further grow our China operations through the existing joint venture.”
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